Excise duty hike in Karnataka would lead to dowtrading, may impact sales, say liquor makers
Liquor manufacturers on Friday raised concerns about the Karnataka government hiking tax on Indian made foreign liquor (IMFL), saying the move will increase consumer prices and adversely hit sales.
Liquor is a major contributor to the state exchequers. CIABC represents domestic IMFL manufacturers, while ISAWI is an association for the national and international premium spirits & wine brands in India. Image Courtesy: Reuters.