INDIA: Further Indian taxes boost black market warns industry
Under the new laws, brands under $20 a case will attract additional taxes of 150%; for cases between $20 and $40 an extra 100% will be levied and a 75% tax has been placed on brands over $40 a case.
Including the basic duty of 224% and State levies, the net duty on imported alcohol will be as high as 740% on goods not exceeding $20 per case, 549% for the $20-$40 category and 467% for cases above $40.
Commenting to India's Financial Express, UDV general manager global brands Sunhil Sethi said: "It's rather disappointing that in the budget, instead of curtailing the current tariff additional duty has been imposed on imported spirits."
He said that a 750ml bottle of Johnnie Walker Black Label would now cost around Rs4,670 ($100.40) while the Red Label of the brand would cost Rs1,800 ($38.70).
Sethi continued: "It is definitely going to affect companies like us. The end consumer price is beyond affordable reach of consumers. However I think the biggest setback is for the Centre since the demand will further shift from the legitimate to the illegitimate channels due to these measures, thereby causing a huge loss of revenue."
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