[Financial Express]No more happy hours! High Corona tax backfires, liquor sales halved in last 5 months
State excise duty on alcohol accounts for around 10-15% of its own tax revenue for majority of states, according to RBI report on ‘State Finances: A Study of Budgets of 2019-20’.Higher tax on liquor to offset the revenue loss due to the pandemic seems to have backfired for states ...