Report Wire

Tag: Bevco

  • Bars in Kerala to renew liquor gross sales after Bevco slashes revenue share from 25% to 13%

    By Express News Service
    THIRUVANANTHAPURAM: Bars in Kerala will resume the sale of liquor after the Beverages Corporation (Bevco) slashed its revenue share from 25% to 13%.

    Bevco’s revenue share was 8% when liquor bottle gross sales began at bars within the wake of the pandemic. After the second lockdown, Bevco had raised the revenue share for liquor equipped to bars to 25% and that for Consumerfed to twenty%. The revision was unacceptable for bar homeowners who determined to cease promoting liquor.

    With bar homeowners resuming gross sales on Friday, the variety of liquor shops has risen to 906. Of these, 302 are run by Bevco and Consumerfed.  

  • Kerala depends closely on alcohol economic system to fill its funds

    Express News Service
    THIRUVANANTHAPURAM: If the newest hike in liquor obligation had been a sign, the state is relying increasingly more on drinkers to shoulder the income payments of the federal government. A supply within the know of issues on the government-run Kerala State Beverages Corporation (BEVCO), mentioned the  7 per cent tax proposed on liquor manufacturers from February 1 will herald round Rs 950 crore to the exchequer yearly.

    Further, in accordance with Excise Minister TP Ramakrishnan, round Rs 855 crore was collected as obligation through the May 28 to December 31, 2020 interval after the federal government hiked the obligation on liquor within the wake of COVID.

    The  authorities can also be anticipated to web  Rs 1,518 crore as obligation throughout this yr, he mentioned in response to a query within the meeting. With the brand new proposed hike of seven per cent from February 1, the state authorities can web a complete income of over Rs 3,500 crore yearly. 

    The state had earlier hiked the obligation on Indian-made international liquor (IMFL) by 35 per cent and 10 per cent for beer and wine, respectively taking the whole tax on IMFL to a whopping 237-247 per cent from 202-212 per cent.

    The new proposed 7 per cent hike will slap a tax burden of 244-254 per cent on these shopping for alcohol within the state. In layman phrases, the brand new proposed hike of seven per cent will impact a rise of Rs 10-90 on varied manufacturers. 

    Further, if an  further Rs 40 had been to be charged per bottle of liquor on a mean, the federal government will get a tax of Rs 35 from it whereas liquor firms will get a advantage of simply Rs 4 and the company Rs 1. 

    Given the fee incurred by the federal government like footing the payments of ‘kits’ being distributed, which performed a significant position in guaranteeing a thumping victory for LDF within the native physique elections, it’s clear that the federal government is pinning hopes on income from alcohol gross sales to pay its payments.

     The incumbent authorities has additionally opened as many as 182 new bars, taking the whole variety of bars within the state to 619, after the earlier UDF authorities had shuttered 748 bars. 

  • Kerala govt withdraws BevQ app as bars reopen in state

    By Express News Service
    THIRUVANANTHAPURAM: The state authorities has issued an order to discontinue the BevQ app launched by the Kerala State Beverages Corporation (Bevco), the state-owned liquor retail monopoly, as a part of introducing digital queue administration system in liquor shops. Though a proper order was issued on Saturday, nearly all of liquor shops within the state have been working with out tokens after the bars have been re-opened within the state.

    The new order has requested the Bevco shops to make preparations to stick to Covid protocols, together with social distancing, for the sale of liquor. Earlier, Bevco authorities had requested the state authorities to discontinue the service of the app within the mild of reviews that the sale of Bevco shops has come down drastically quickly after the app was launched.

  • Liquor costs to go up by Rs 35-40 from Feb 1

    By Express News Service
    THIRUVANANTHAPURAM: The state authorities has given its concurrence to the Beverages Corporation’s choice to hike the liquor costs. The worth hike within the Rs 35-40 vary will come into impact from February 1. Recently, the Bevco director board had determined to extend the acquisition worth by seven per cent to deal with the long-pending demand of producers.

    “The prevailing liquor prices were fixed when the extra neutral alcohol (ENA) price was about `48 per litre. The present price of ENA is about `58 per litre and, in between, it had risen to as much as `69. We rejected the previous requests by suppliers citing reasons like flood,” stated a high supply.

    “Discussions with suppliers are on and the final price list will be prepared by the end of this week,” he stated. Besides the producers, the value hike may even improve the income of the Beverages Corporation and the state authorities as a result of corresponding  improve in revenue, gross sales tax and excise responsibility. 

    This would be the second worth hike for liquor within the present monetary 12 months. In May, the costs went up after gross sales tax was elevated by 35 per cent owing to the Covid-induced monetary crunch of the state authorities. At current, the gross sales tax on IMFL is 237 per cent for manufacturers priced as much as Rs 400 and 247 per cent for manufacturers costing above `400.