J & K Govt. issued the Excise Policy 2024-2025

Feb 28, 2024 | by TeamLease RegTech Legal Research Team

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Finance & Taxation ComplianceThe Government of Jammu and Kashmir on January 01, 2024, issued the Excise Policy 2024-2025.

The objectives of the policy are as follows:

• To bring about greater social consciousness and awareness about the harmful effects of consumption of alcoholic beverages and drug abuse;

• To encourage the transition from high to low alcoholic-content beverages;

• To rationalize the number of taxes/duties and other levies to optimize revenues for the common good;

• To check bootlegging/smuggling of liquor and narcotic drugs in the Union Territory of Jammu and Kashmir from neighbouring States/Union Territories;

• To provide the choice of liquor brands and places for consumption to its consumers and a level playing field to all the stakeholders;

• To rationalize the production and sale of JK Special Whisky and JK Country Liquor to curb illicit distillation;

• Tapping of the full potential of the existing liquor Industry to promote ancillary industries and raising new avenues of employment; and

• Complete digitalization in liquor manufacturing, distribution and sale from production till retail consumption.

[Notification No S.O. 85]


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