New Delhi, Nov 4 (PTI) Prices of some premium Scotch whiskies are set to decline in the national capital as the Delhi Excise Department has started rolling out a reduction in customs duty on British liquor, officials said on Wednesday.
Last year, India signed a Comprehensive Economic and Trade Agreement with the United Kingdom (UK), slashing the import duty on British spirits.
"We have started the process, and some wholesalers who import liquor have also been granted the revised cost; all segments will be covered in time," a senior excise official said.
In October, the Delhi Excise Department decided to implement the revised rates.
Under the trade agreement, India will reduce duty on UK whisky and gin from 150 to 75 per cent, and further to 40 per cent in the 10th year of the deal.
Officials said revised prices could begin appearing this month. In neighbouring Uttar Pradesh, prices of several UK-origin liquor brands have already declined by around 5-15 per cent.
According to experts, in the premium segment, prices of whiskies like Johnnie Walker may fall by Rs 200-300 per bottle. For Scotch brands that are bottled in India, such as Black Dog, 100 Pipers, Passport, Vat 69 and Black & White, the drop may be Rs 100-150.
Another policy decision regarding a new excise regime is also pending. The Delhi government has to frame and implement a new excise policy.
According to officials, a draft of the new policy has been sent to the Centre for its approval.
