news details |
|
|
| New Excise Policy is vibrant, touches all important issues: Shavan | | | 
EARLY TIMES REPORT
JAMMU, Sept 1: Excise Commissioner J&K Rajesh Kumar Shavan today said that new excise policy is vibrant and has touched all the important issues in the larger interest of public and Union Territory of J&K.
Speaking to Early Times, Excise Commissioner said that the Government of J&K UT vide notification SO 275 dated 31.08.2020 has issued Excise Policy for the year 2020-21 effective from 1st September, 2020 till 31st March, 2020.
He said that in supersession if earlier Excise Policy, the new Excise Policy aims at rationalizing the tax structure to optimize revenues besides encouraging transition from High to Low alcoholic drinks.
It also aims at providing choice of brands to consumers and level playing field to those in the trade. 50% Additional Excise Retail Duty (ARD) commonly known as “Corona Tax” has been waived off. To generate additional revenue for common good, bottling fee @ Rs. 10-12 per bottle has been introduced on bottling of all kind of liquor. Besides, the existing Excise duties have been marginally increased.
To bring about discipline and effective enforcement, fixed License fee has been introduced for all kind of licensees at different rates. Policy provides for grant of new licenses (Wine Shops) in un-served and under-served areas through e-tendering process in a secured and transparent manner.
Provision for reservation to Ex-servicemen, Specially abled SC/ST/OBC and economically weaker sections @ 2% each has been made while granting new licenses.
For new Start-ups established by availing loans under any of self-employment scheme of the Government one will get concession on up-front fee. They have to pay Rs 5 lakh instead of Rs 7 lakh. The Bars at the tourist locations and areas falling under various Tourism Development Authorities shall pay half of amount prescribed under annual license fee. For commercial properties meant for tourist accommodation located in the water bodies in the tourist areas permits shall be issued for serving liquor by charging Rs 1 lakh as annual fee. Banquet/Party halls, who intend to serve liquor shall get registered with the Department by paying Annual Registration Fee of Rs 50 thousand. To curb bootlegging/smuggling of Super Deluxe/Bottled in Origin (BIO) price correction has been made by imposing additional assessment duty @ 20% instead of 40%. To increase the quality and to comply the FSSAI standards of JK Special Whisky shall henceforth 65° proof instead of 60° proof. Scope of social responsibility Corpus Fund has been widened by including various activities in order to achieve long term objectives of reducing the consumption of liquor and drug abuse through education/mass awareness and other youth/community out-reach programmes and through creating of sports/community infrastructure, libraries etc.
Shavan said the focus has been laid on transparency and openness and he is quite hopeful that the financial targets will also be achieved despite various limitations due to COVID-19. |
|
|
|
|
|
|
|
|
|
|
|
|
| |
| |
|
|
|
|
 |
|
|
|
|
STOCK UPDATE |
|
|
 |
| BSE
Sensex |
 |
| NSE
Nifty |
|
|
| |
CRICKET UPDATE |
|
|
|
|
| |
| |
|
|
| |
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
