In a relief to the ailingrevenue collectionof the state, the excise department is set to meet its revised revenue collection target set for the financial year 2022-23, which would come to a close in two more days.
As per the data till February 28, the revenue collection fromliquorsales (excluding sales tax) to the state exchequer is Rs 2,480.15 crore, the highest till February end for any financial year.
The previous highest collection was in 2018-19, when it was Rs 1,948.69 crore. In 2018-19, the total revenue collection till March 31 closed at Rs 2,480.63 crore, which means that Rs 531.94 crore was collected in the last month of the financial year.
The main components of this revenue figure are excise duty, license fee and other regulatory fees. The excise duty is calculated in slabs ranging from 21.5% to 23.5% of the purchase cost per proof litre, and the highest rate of excise duty is Rs 237 per proof litre. With the sales taxes also being revised recently, the revenue from liquor is all set to scale further heights.