Karnataka to abolishes VAT on Liquor from April this year


Karnataka government has proposed to nullify Value Added Tax (VAT) on lager, wine and India made foreign liquor (IMFL) from April this year. The proposal is part of the yearly Budget for 2017-18 exhibited by Chief Minister, Siddaramaiah, in the State Assembly.

The Budget likewise proposes to abrogate extra Excise on alcohol items in the State.

While the alcohol stocks have surged at the Stock Exchanges, the friendliness business in the State wholeheartedly respected the administration choice to abrogate VAT on a wide range of mixed drinks in the State.