Shillong: The Meghalaya Cabinet on Tuesday approved the amendment of the Meghalaya Excise Amendment Rules, 2021 for reclassification of brands to ensure additional revenue of Rs 50 crore is collected by excise department.
“The excise duty is expected to increase by 15 per cent and that the State will be getting additional revenue of Rs 50 crore per year,” Public Health Engineering Minister Marcuise N Marak said.
At present, excise collection is about Rs 350 crore per year.
Commissioner and Secretary Excise department, Sanjay Goyal said the revenue collection of the department during the last five years was around Rs 1,200 crore.
“This is one of the major steps; (we) have rejigged the classification of the brands. We have studied the kinds of classification our neighbouring states are having and what kind of advantage we can draw in classifying,” Goyal said.
He further stated that the amendment will not impact the Maximum Retail Price much, pushing the prices up by only 9-10 percent.
“This rejigging will help the department get around 5 per cent additional revenue without impacting on the Maximum Retail Price,” Goyal said.
