The cabinet on Wednesday hiked the price of liquor as it approve the re-classification of IMFL brands to increase the revenue of the state by Rs 25 crore.
Chief Minister Conrad K Sangma said that the government has decided that there will be re-classification of categories of brands for IMFL through amendments of ad valorem, MVAT on liquor and Rule 44 (10) of the Meghalaya Bonded Warehouse Rules etc.
This was after the rates in neighbouring states have changed in the past few months, he said. He said therefore in the interest of ensuring that the state gets more revenue, the government has re-classified the brands and also increased the price on some of them.
Stating that alcohol will slightly be more expensive, the CM said that the government will end up earning approximately Rs 25 crore plus additional revenue with the implementation of today’s decision.
While stating that most of the brands will be affected, the CM said depending on the brand, the price will go up between 3-4 % and some brands upto 8-9%.