The increase in basic Customs duty has been made to bring the import duty in line with accepted international practice, while the abolition of countervailing duty was regarded necessary as the levy was being seen as an unfair trade practice. The Government recent decision to remove additional Customs duty on imported liquor Marlboro Gold Buy Online, wine and spirits has led to a heady cocktail of views and opinions in the public domain on the impact of the move. According to some quarters, it is too early to assess the impact of these changes on the duty regime on alcoholic products Cheapest Brand Cigarettes. The move came in response to the long-standing complaint of the European Community and the US that such additional duties are discriminatory in nature and hence not in accordance with the WTO Agreement Cheap Usa Cigarettes. Significant development Mr S. Madhavan, Leader (Indirect Tax Practice), PricewaterhouseCoopers, believes that though the move is a significant development in the context of the country tax treatment of imports of such products, there is no certainty that the status quo will exist in relation to the existing State excise/sales taxes on alcoholic products. Speaking to Business Line on the ramifications of the move, he said: is possible that States may seek to augment revenues by enhancing the State taxes on these products, as a response to this elimination of additional Customs duties by the Centre. Besides, he added, the move will have a limited effect on customers as these products currently have only 3-4 per cent market share. reduction in duties for wines and bottled spirits may only lead to a shift in purchase of these products through regular channels in place of the grey market suppliers Order Smokes Online. Arvind, Partner (Indirect Tax), KPMG. reduction in the effective Customs duty would go to reduce the price of imported alcoholic beverage provided the States choose not to impose countervailing duty on such goods. Tirumalai, Partner, Deloitte Haskins Sells. will be due to commodity preferences by dealers, driven by tax consideration rather than by consumer preferences. We have seen this happening in many consumer products such as biscuits, cigarettes and tea. What the new policy means to the exporter to India will be driven by the ultimate price to the consumer Marlboro Cigarettes Stock Price. With the abolition of countervailing duty, it is unclear how States will take this to their advantage. The retail prices of non-premium imported liquor and wines may be able to match the prices of premium liquors and wines produced in India. This challenge and the response to it will determine the future growth of this industry. The situation is very fluid and dynamic.
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