Liquor stocks plunge up to 5% as Maharashtra govt hikes excise duty on IMFL
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Economic Times
2 days ago
- Economic Times
USL liable to pay entry tax under Madhya Pradesh local area rule, holds Supreme Court
Synopsis The Supreme Court has ruled that United Spirits (USL) is responsible for paying entry tax in Madhya Pradesh on goods entering local areas for use, consumption, or sale. The court upheld the High Court's decision, stating that USL's sales to warehouses triggered the entry of goods, justifying the entry tax levy. IANS United Spirits Limited The Supreme Court on Monday held that United Spirits (USL) is liable to pay entry tax under the Madhya Pradesh Sthaniya Kshetra Me Mal Ke Pravesh Par Kar Adhiniyam 1976, which levied such tax on the entry of goods into a local area for use, consumption or the Madhya Pradesh High Court's decision which favoured the state, the bench of Justices J B Pardiwala and K V Vishwanathan said that '…it is clear that the appellants (USL) by the sale to the warehouse caused to be affected the entry of goods and the entry was occasioned on the account of the sale into the local area for consumption, use or sale therein.'It is also not disputed that USL is a dealer as defined under the Madhya Pradesh Value Added Tax Act, 2002, the SC said, adding that the company's only contention that the State warehouse was also a dealer 'makes no difference' since it cannot be disputed that the company certainly occasioned the entry of goods and the levy of entry tax on them, which could always be passed on, was perfectly justifiable in to the judges, we have no manner of doubt that there were two independent transactions, one between USL (manufacturers) and the State Warehouse and the other between the State warehouse and the retailers. 'Hence, it will be difficult to accept the contention of the State that the role of the State is only supervisory and the warehouses didn't purchase beer and IMFL from the manufacturer,' they the top court said that this does not resolve the issue in favour of USL as under Section 3 of the M.P. Entry Tax Act 1976, the incidence of taxation is on the entry in the course of business of a dealer of goods specified in Schedule II, into each local area for consumption, use or sale therein. The further requirement is that such tax was to be paid by every dealer liable to tax under the VAT Act who hasd effected entry of such goods. USL had contended that no direct sales could be made by the manufacturer to the retailers and there was "no privity of contract" between them and the retailers and it was the state government warehouse which sold the goods to the retailers. It is the warehouse which caused the movement of the goods into the local area, it the State government contended that it neither purchased nor sold liquor. The HC had correctly found that the warehouses neither purchased or sold liquor and that the department only supervised the sale made by the manufacturer to the retail contractors.
The Wire
2 days ago
- The Wire
Rampur Jugalbandi #6 Crowned Best World Single Malt at John Barleycorn Awards 2025
Radico Khaitan's Global Winning Streak Continues New Delhi, Delhi, India – Business Wire India Radico Khaitan Ltd., one of the largest homegrown alco-bev companies, continues its winning streak on the global stage. In a stellar achievement for Indian whisky, Rampur Jugalbandi #6 has been named Best World Single Malt at the prestigious John Barleycorn Awards 2025, USA. Adding to the triumph, Rampur Select secured a Double Gold, while Jugalbandi #5 earned Gold in the Indian Single Malt – Tokaji Finish category, reinforcing Rampur's position among the finest in the world. Taking centre stage, Rampur Jugalbandi #6 was awarded Best World Single Malt; aged in rare Madeira casks the liquid is an exploration in bold maturation and flavour depth. Rampur Select was awarded Double Gold in the taste competition under the Single Malt Whisky category for its signature smoothness and fruit-forward character. And Rampur Jugalbandi #5 received a Gold in the Indian Single Malt Whisky – Tokaji Finish category, for its elegant and experimental cask finish, further cementing Rampur's growing legacy in the international whisky landscape. The John Barleycorn Awards are among the most respected honours in the spirits world, judged by leading writers and industry veterans who spotlight craftsmanship, quality, and innovation across categories. Mr. Sanjeev Banga, President – International Business, Radico Khaitan Ltd., said, 'It is truly gratifying to see Indian single malts gaining such remarkable global recognition. Rampur's consistent wins at international platforms mark a meaningful milestone for us. These accolades reaffirm our belief that when whisky is crafted with authenticity, passion, and purpose, it resonates across cultures and continents. We are proud to share this moment with our teams and our consumers who believe in our journey.' Mr. Kunal Madan, Vice President – International Business, Radico Khaitan Ltd., added, 'Rampur Jugalbandi #6 is a testament to our bold and evolving whisky craft. This win places it among the world's finest, reflecting a uniquely Indian story of innovation rooted in tradition. The Jugalbandi series reflects our creative vision, and expressions like Jugalbandi #5 and Rampur Select continue to showcase the versatility and craftsmanship at the heart of Rampur. These recognitions inspire us to keep pushing the boundaries of innovation while staying true to our roots.' For Radico Khaitan, these recognitions reflect a long-term commitment to crafting luxury spirits of international calibre. The secret to Rampur's appeal lies in its Himalayan provenance — the region's seasonal extremes, especially the intense Indian summer, lend the whisky a maturity and complexity that's hard to replicate. Crafted at the historic Rampur Distillery, Rampur Select reflects the warmth of the Indian summer, layered with vanilla, spice, and hints of caramel. Jugalbandi #5, finished in Tokaji casks, marries Indian character with European refinement. Jugalbandi #6, finished in Madeira casks, explores a deeper, more opulent flavour profile — a bold step forward for Indian malts. With growing demand across the United States, Europe, and global travel retail zones, the Rampur portfolio continues to establish new benchmarks for premium Indian whiskies. Radico Khaitan Limited at a Glance Radico Khaitan Limited ('Radico Khaitan' or the Company) is among the oldest and one of the largest manufacturers of IMFL in India. Earlier known as Rampur Distillery Company, Radico Khaitan commenced its operations in 1943 and over the years emerged as a major bulk spirits supplier and bottler to other spirit manufacturers. In 1998 the Company started its own brands with the introduction of 8PM Whisky. Radico Khaitan is one of the few companies in India to have developed its entire brand portfolio organically. The Company's brand portfolio includes Rampur Indian Single Malt Whiskies, Sangam World Malt Whisky, Kohinoor Reserve Indian Dark Rum, Spirit of Victory 1999 Pure Malt Whisky, Jaisalmer Indian Craft Gin, Royal Ranthambore Heritage Collection Royal Crafted Whisky, Morpheus and Morpheus Blue Brandy, Magic Moments Vodka, Magic Moments Remix Pink Vodka, Magic Moments Verve Vodka, Magic Moments Dazzle Vodka (Gold & Silver), 1965 The Spirit of Victory Premium XXX Rum and Lemon Dash Premium Flavored Rum, After Dark Whisky, 8PM Premium Black Whisky, 8PM Whisky, Contessa Rum and Old Admiral Brandy. Radico Khaitan is also one of the largest providers of branded IMFL to the Canteen Stores Department (CSD), which has significant business barriers to entry. The Company has distilleries situated in Rampur, Sitapur and Aurangabad, Maharashtra which is a 36% joint venture. The Company has a total owned capacity of 320 million litres and operates 43 bottling units (5 owned, 29 contract and 9 royalty bottling units). It is also one of the largest exporters of Alcoholic beverages from India, with brands available in over 102 countries. To View the Image, Click on the Link Below: Rampur Jugalbandi #6 Crowned Best World Single Malt at John Barleycorn Awards 2025 (Disclaimer: The above press release comes to you under an arrangement with Business Wire India and PTI takes no editorial responsibility for the same.).
Time of India
3 days ago
- Time of India
Big liquor brands regain market share after excise policy changes in AP
Vijayawada: Many liquor brands that went off the shelves in the last five years have now not only made a comeback but also regained significant market share in Andhra Pradesh. The overall market share of liquor brands owned by multinational companies (MNCs) and brands with a national presence have reached 56% — an increase of more than 150% compared to their presence during the previous YSRCP regime. The market share of lesser-known brands has decreased to just 7%, which used to be 68% during the previous regime. None of the suppliers have more than 20% of the market share. According to excise minister Kollu Ravindra, the reason for the increase in market share of well-established brands is the automated order-placing system. "We are placing orders as per the demand from consumers. We didn't do anything either to favour a particular brand or to prevent any brand from accessing the market in AP. Our system places indents based on the demand and supply mechanism without any manual intervention," explained Ravindra. While MNCs had a negligible presence during the previous regime, a few companies with national presence like Tilak Nagar Industries (8%), Radico Khaitan (6%), and Jagatjit Industries (3%) got a share in the market before the NDA govt came to power in the state in June 2024. The other top 25 brands together had only 11% of the market share. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like You Won't Believe the Price of These Dubai Apartments Binghatti Developers FZE Get Offer Undo After the change of policy by the NDA govt in the state, the market share of Tilak Nagar Industries increased to 12%, while that of Radico Khaitan rose to 18%. Pernod Ricard and United Spirits, which vanished from the state during the previous regime, have now gained 7% and 12% market share, respectively. Even the market share of other top 25 brands has increased from 11% to 18% after the NDA govt came to power. Another significant difference, according to Ravindra, is the reduction in illicit liquor. "There has been a remarkable improvement on this front as nine districts have been declared illicit liquor-free. Non-availability of favoured brands is one reason for people to opt for illicit liquor. Operation Navodayam launched against this menace is giving good results, and we are confident of making more districts arrack-free in the coming days," said Ravindra. HIC HIC HOORAY Market share of various companies before and after the new excise policy (in %) MNC Brands United Spirits | 0 to 11.4 Pernod Ricard | 0 to 7.3 Brands with national presence Radico Khaitan | 6.2 to 18.3 Tilaknagar Industries | 8.2 to 11.4 Allied Blenders | 1.4 to 7.7 InBrew | 1.8 to 6.6 John Distilleries | 0 to 6.2 Other Top 25 brands 11.1 to 19.3 Lesser-known brands 68.2 to 7.2 Prices have come down by Rs 10 to Rs 100 on various brands of liquor and beer Excise dept estimates Rs 110 crore savings per month for consumers due to price reduction Prices of 30 brands having a market share of 87% in AP are lower than in Telangana, Karnataka, and Tamil Nadu
