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Nation Current Affairs 12 Feb 2019 Liquor sale: TN gove ...

Liquor sale: TN government earns over Rs 26K crore revenue

DECCAN CHRONICLE.
Published Feb 12, 2019, 7:21 am IST
Updated Feb 12, 2019, 7:22 am IST
Corporation earned a profit of Rs 16.29 crore (before tax) during the year under report, it said.
In his recent budget address, Deputy CM O. Panneerselvam had said that the State excise duty collection has been estimated at  Rs 6,998 crore in 2018-19
 In his recent budget address, Deputy CM O. Panneerselvam had said that the State excise duty collection has been estimated at Rs 6,998 crore in 2018-19

Chennai: The government run Tamil Nadu State Marketing Corporation reported a turnover of Rs 31,757 crore on Indian Made Foreign Spirit and beer products and government earned over Rs 26,000 crore revenue for 2017-18. TASMAC, which has a monopoly over the wholesale and retail sale of alcoholic beverages in the State, procures IMFS, beer and wine from 11 IMFS manufacturing units, seven beer makers and one wine making unit in Tamil Nadu.

In its 35th Annual Report (2017-18), laid on the table of the Tamil Nadu Assembly on Monday, TASMAC, in its performance report, furnished information about its turnover and revenue.

 

During the year 2017-18, the sales turnover of IMFS and beer products was Rs 31,757.71 crore. The revenue to the government earned during 2017-18 by way of VAT (Sales Tax) and Annual Privilege Fee (Licence Renewal Fee) from TASMAC, excise duty and VAT (Sales Tax) from IMFS manufacturers and other taxes and fees was Rs 26,797.96 crore, it said.

The Corporation earned a profit of Rs 16.29 crore (before tax) during the year under report, it said. In his recent budget address, Deputy Chief Minister O Panneerselvam had said that the State excise duty collection has been estimated at Rs 6,998 crore in 2018-19.

TASMAC is a government owned private limited company registered on May 23, 1983.   

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