Bengaluru: Spirits producers voiced worries about the Karnataka government's plan to hike the tax on Indian made foreign spirits (IMFL) on Friday, claiming that the rise will hurt sales.
On Friday, the newly elected government of Karnataka unveiled its proposed budget for fiscal year 2023-2024. The current rates of additional excise duty (AED) on Indian Made Foreign Liquor (IMFL) across all 18 slabs will be increased by 20 percent, as declared by Chief Minister Siddaramaiah in his budget speech.