Daijiworld Media Network – Bengaluru (EP)
The price rise may be as high as 177%
Bengaluru, Jul 1: In a jolt to wine lovers, following government’s decision to impose additional excise duty, it is reliably learnt that wine prices may go up by as much as 177%.
A draft notification was released on June 22 regarding imposing 177% excise duty on wine prices made up of five slabs. Sources say that the prices may come into effect from July 1 itself.
However, after deliberations it is decided to increase the prices by 59%, said state wine manufacturers' association president P L Venkatarama Reddy. "Though the draft notification stated that the excise duty will be increased by 177%, the officials have assured in their final notification that it will be increased by 59%. The final notification is awaited."