By Avinash Prabhakar
New Delhi, Sep 2 (SocialNews.XYZ) As the national capital on Thursday returned back to the old excise policy, the liquor industry seems to be more concerned regarding the lack of clarity about the stock left over at L1 liquor license during the policy changeover.
The stock which was left unsold after the city stepped in to the new excise policy in November 2021 has not yet been resolved and additionally this changeover policy has also been added in the stock which has become a headache for the industry.
"Industry is greatly concerned regarding lack of clarity on the stock left over at L1s due to and during the two successive policy changes. It may be recalled that prior to November 16, 2021, under the earlier policy, excise duty was paid in advance by companies when bringing stock to L1 depots. Responding to the appeal by Delhi government to ensure there is no stock out during transition in November, companies imported enough stock after paying excise duty," Confederation of Indian Alcoholic Beverage Companies (CIABC) Director General Vinod Giri told IANS.
However, under the policy after November 16, 2021, excise duty was included in the retail license fees, hence companies had to bring in fresh stock without paying duty. Upon request by the industry the government allowed the leftover stock to be transferred to new L1s taken under the new policy, but did not give permission to sell, Giri added.
"That stock is still lying unsold. Now with going back to old policy with effect from September 1, companies again have to bring in the stock after paying excise duty. Now they are holding stock which was brought in between November 16 and August 15 without paying excise duty. As a result, company L1s are straddled with leftover stock from two transitions with no clarity what to do with it," CIABC Director General told IANS.
He said that there is no clarity or direction from the government on it.
"We urge the government to deal with the matter on priority," Giri added.
On the new policy from today, he said that many brands are already supplied to and available in retail vends.
However, consumers may find some popular products, especially imported ones, missing on shelves as they are still under process. We expect availability to start settling down over the next couple of weeks, the CIABC Director General added.
Source: IANS
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