Arrack prices to be increased
January 2, 2024 10:11 am
Prices of Special Arrack and Coconut Arrack are to be increased by a substantial amount in line with the hike in excise duty and the Value-Added Tax (VAT).
Accordingly, the prices are supposed to go up by around Rs.400 per bottle.
On Monday (Jan.01), a gazette notification was published by the Finance Ministry, to announce the increase in Excise Duty on Liquor with immediate effect.
The excise duty on Special Arrack was increased by Rs. 840 per litre, and the excise duty on Palmyrah, Coconut and processed arrack was upped by Rs. 900 per litre.
Meanwhile, following the passing of the VAT (Amendment) Bill in Parliament on December 11, 2023, the tax was increased from 15% to 18% with effect from January 01.
Last week, the Distilleries Company of Sri Lanka (DCSL) announced that the prices of all liquor products manufactured by the company would go up from January 01. Thereby, the prices of all DCSL brands of liquor were upped by Rs. 90, Rs. 50 and Rs. 20 per 750ml, 375ml, and 180ml, respectively.
