Kolkata, Dec 18 (PTI) High rates of taxation are crippling the alcoholic beverages (alcobev) sector and threatening the future of the liquor industry in the country, the International Spirits & Wines Association of India (ISWAI) said.
ISWAI, the apex body of the premium alcobev industry in the country, said that taxes account for 67 to 80 per cent of the product prices, leaving little for the trade to sustain and manage operations.
“The Indian alcobev industry is in deep crisis due to inflation on one hand and high taxation rates. In this context, it is needed to decrease taxes and raise product prices for the sector to sustain,” ISWAI CEO Nita Kapoor said.
Link – https://www.ptinews.com/news/business/high-taxation-rates-crippling-liquor-trade-iswai/478225.html
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