INSUBCONTINENT EXCLUSIVE:
A gazette notification has been issued by the Finance Ministry increasing the Excise Duty on Liquor with effect from today (January
840 per litre and the excise duty on Palmyrah, Coconut and processed Arrack has been increased by Rs
900 per litre of alcohol.The prices of liquor is thereby expected to be increased with effect from today (January 01), following the
increase in Excise Duty and the increase of Value Added Tax (VAT) to 18%.The Distilleries Company of Sri Lanka PLC (DCSL) recently announced
that the prices of all liquor products manufactured by the company would go up from January 01, 2024.Accordingly, the prices of all DCSL
brands of liquor are to be increased by Rs
20, per 750ml, 375ml and 180ml, respectively.The increased prices are slated to come into effect following the imposition of the revised
Value Added Tax (VAT) and the increasing of the Excise Duty on Liquor.The VAT (Amendment) Bill was passed in Parliament on 11 December, and
