Gazette issued increasing excise duty on liquor
January 1, 2024 04:12 pm
A gazette notification has been issued by the Finance Ministry increasing the Excise Duty on Liquor with effect from today (January 01).
Accordingly, the excise duty on Special Arrack has been increased by Rs. 840 per litre and the excise duty on Palmyrah, Coconut and processed Arrack has been increased by Rs. 900 per litre of alcohol.
The prices of liquor is thereby expected to be increased with effect from today (January 01), following the increase in Excise Duty and the increase of Value Added Tax (VAT) to 18%.
The Distilleries Company of Sri Lanka PLC (DCSL) recently announced that the prices of all liquor products manufactured by the company would go up from January 01, 2024.
Accordingly, the prices of all DCSL brands of liquor are to be increased by Rs. 90, Rs. 50 and Rs. 20, per 750ml, 375ml and 180ml, respectively.
The increased prices are slated to come into effect following the imposition of the revised Value Added Tax (VAT) and the increasing of the Excise Duty on Liquor.
The VAT (Amendment) Bill was passed in Parliament on 11 December, and the relevant tax was thereby approved to be increased by 3%, from 15% to 18%.
Read Full Excise Ordinance Below:
Excise Ordinance - 01.01.2024 by Adaderana Online on Scribd
