Punjab cabinet okays excise policy for three months of FY 2022-23
Chandigarh Mar 31 PTI The Punjab cabinet on Thursday approved an extension of the states excise policy for three months for the period of April 1 to June 30 of the financial year 2022-23The decision was taken at a cabinet meeting chaired by Chief Minister Bhagwant Mann here this evening an official statement saidIt said the policy has been allowed a renewal for a period of three months to those existing licensees who will give 175 per cent excess revenue over the Minimum Guaranteed Revenue MGR of the financial year 2021-22 for their respective groupzone in order to maintain stability in liquor tradeHowever the number of groups or zones and the number of liquor vends will remain the sameThe statement further said that the MGR of groups or zones of the state would be Rs 144096 crore for a period of three monthsHowever the revenue target of this short term excise policy has been pegged at Rs 1910 crore for the three months period it saidIn order to generate more revenue the Minimum Guaranteed Quota MGQ of Punjab Medium Liquor Indian Made Foreign Liquor Beer and Imported Foreign Liquor of each group or zone has been increased by 10 per cent over the minimum guaranteed quota of the corresponding first quarter of the last financial year of the respective group or zoneFurther to allow retail licensees to lift liquor as per their requirement the amount of additional fixed licence fee has been increased the statement saidThe ratio of fixed and open quota of PML shall be 3070 as was prevalent during the financial year 2021-22 In order to control the production and movement of liquor an IT-based track-and-trace system would be implemented during the financial tear 2022-23 the statement said PTI SUN IJT
Chandigarh Mar 31 PTI The Punjab cabinet on Thursday approved an extension of the states excise policy for three months for the period of April 1 to June 30 of the financial year 2022-23The decision was taken at a cabinet meeting chaired by Chief Minister Bhagwant Mann here this evening an official statement saidIt said the policy has been allowed a renewal for a period of three months to those existing licensees who will give 175 per cent excess revenue over the Minimum Guaranteed Revenue MGR of the financial year 2021-22 for their respective groupzone in order to maintain stability in liquor tradeHowever the number of groups or zones and the number of liquor vends will remain the sameThe statement further said that the MGR of groups or zones of the state would be Rs 144096 crore for a period of three monthsHowever the revenue target of this short term excise policy has been pegged at Rs 1910 crore for the three months period it saidIn order to generate more revenue the Minimum Guaranteed Quota MGQ of Punjab Medium Liquor Indian Made Foreign Liquor Beer and Imported Foreign Liquor of each group or zone has been increased by 10 per cent over the minimum guaranteed quota of the corresponding first quarter of the last financial year of the respective group or zoneFurther to allow retail licensees to lift liquor as per their requirement the amount of additional fixed licence fee has been increased the statement saidThe ratio of fixed and open quota of PML shall be 3070 as was prevalent during the financial year 2021-22 In order to control the production and movement of liquor an IT-based track-and-trace system would be implemented during the financial tear 2022-23 the statement said PTI SUN IJT
