New Excise Policy announced
SRINAGAR: New excise policy 2020-21 shall come into force across Union Territory of Jammu and Kashmir from 01 September 2020. The new policy focuses on transparency and objectivity in the liquor trade along with boosting revenues through rationalization of duties.
The additional excise duty levied as per old policy after onset of COVID 19 has been removed. This is expected to help the industry involved in the manufacturing and sale of liquor in the Union Territory as well as boost revenue generation.
In the new policy, due care is taken to remove the disparity between the different categories of the licensees.
Under new policy, future allotment of any sort of licences shall be exclusively done in a transparent manner. Due care is taken for the underprivileged section of the society providing reservation for them in granting the licences for sale of liquor.
As per new policy, renewal of licences shall be done as per rules only and ambiguities shall be removed to address any concerns.