Thiruvananthapuram: The state government has given its concurrence to the Beverages Corporation’s decision to hike the liquor prices.
The price hike in the Rs 35-40 range will come into effect from February 1.
Recently, the Bevco director board had decided to increase the purchase price by seven per cent to address the long-pending demand of manufacturers.
Besides the manufacturers, the price hike will also increase the revenue of the Beverages Corporation and the state government due to the corresponding increase in profit, sales tax and excise duty.
This will be the second price hike for liquor in the current financial year. In May, the prices went up after sales tax was increased by 35 per cent owing to the Covid-induced financial crunch of the state government.
At present, the sales tax on IMFL is 237% for brands priced up to Rs 400 and 247% for brands costing above Rs 400.