The Government of Karnataka on June 21, 2024, notified the Draft Karnataka Excise (Excise Duties and Fees) (Third Amendment) Rules, 2024 further to amend the Karnataka Excise (Excise Duties and Fees) Rules, 1968.
The following has been stated: -
•In rule 2-AE, - (i) after sub-rule (2), the following sub-rule shall be inserted, namely: -
(2-A) The detailed Cost Sheet relating to each quoted brand of Liquor shows details of items and costs involved in arriving at the Declared Price.
•In rule 2-AF of the said rules, in sub-rule (1), in the explanation, after clause (b), the following clause shall be inserted, namely: -
(c) Provided further that, after reckoning the Maximum Retail Selling Price, the Additional Rounding-Off Excise Duty (AROED) is charged wherever required at such a rate to ensure that the liquor prices are rounded off to the next Rs.5/-. This AROED shall be part of the MRP build-up just like the Excise Duty and would be included in the total Excise Duty payable while issuing permits. It shall be applicable at such a value and in such a manner that after calculation of MRP, the MRP arrived is exactly a multiple of Rs.5/-.
They shall come into force with effect from July 01, 2024.
Any objection or suggestion will be taken up for consideration after seven days.
The detailed amendments are given in the document below.
[Notification No. FD 4 PES 2024]
