A retailer added that after the hike, one can of a popular beer brand now costs Rs 161. Earlier, it sold for Rs. 140. Why would any customer pay an extra Rs. 21 for something as small as a can of beer? Drinker of light beer now refrain from drinking, while strong drinkers have now switched to Indian Made Foreign Liquor (IMFL).
What is Excise?
Excise is a tax which is put on certain goods for their production or sale or on license upon specific services.
As an indirect tax it is mostly collected by a retail store or some intermediary body from the consumer, who ultimately bears the weight of paying the tax. After this, the producer of goods pays this tax to the government.
Global Trend in Beer Consumption
- Around the world, the beer industry is facing one of its great challenge in the past half century. All of a sudden, there is falling consumer demand and increasing competition in the market, together with a tougher market access. This mixing of challenging scenarios is not just a simple roadblock for large beer manufacturers. Rather it’s a tough era for the entire liquor industry.
- In the United States of America, traditionally beer’s largest market, production volumes fell between 2007 and 2014.
- In various markets such as Germany, France and the UK, sales came down by roughly 10% over the same time. The per capita consumption of Germans, has dropped by 75% since 1976. This collapse has come in the face of demographic changes and the emergence of alternative beverage categories such as wine, cider and health-oriented drinks, tough regulatory ecosystem and heavier taxation together with a global economic slowdown.
- This is despite amazing growth rates and increments in the output volume of various emerging markets in recent years.
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What is excise duty?An excise duty is a type of tax charged on goods produced within the country (as opposed to customs duties, charged on goods from outside the country). It is a tax on the productio...
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