Jammu and Kashmir Approves Online Auctions for Liquor Vends in 2024-25 Excise Policy

Buzzbytes, Jammu, January 20:In a recent development, the Administrative Council of Jammu and Kashmir, chaired by Lieutenant Governor Manoj Sinha, has given its approval for the J&K Excise Policy for the fiscal year 2024-25. A notable feature of this policy is the green light for online auctions of liquor vends across the region.Online Auctions: allotment of liquor vends will be conducted through online auctions, introducing a transparent and competitive process.Registration Fee: Bidders are required to pay a registration fee of Rs 50,000 online through the designated portal.Bid Deposit: Successful bidders must deposit 100% of the bid amount through the eGRAS/Easy Collect portal within seven banking days from the finalization of the bid.Re-Auction: Vends not allotted due to various reasons, such as social pressure, court orders, or non-availability of premises, will be subjected to re-auction.Minimum Reserve Bid Price: A new initiative links the minimum reserve bid price with the sale potential of each vend, ensuring a fair valuation.Excise Duties: The policy outlines various fees and duties applicable to the manufacturing, transport, import, and export of liquor. Excise duty on CSD/PAMF continues to be 25% less than that on civilian liquor.Digitalization: The policy emphasizes complete digitalization in liquor manufacturing, distribution, and sale processes from production to retail consumption.License Compliance: Licensees selling liquor above the Maximum Retail Price (MRP) will face fines of Rs 40,000 for the first offense and Rs 75,000 for the second offense.License Extensions: Existing licensees with a Beer Bar and Microbrewery License will be granted a license within the same premises upon remittance of the required license fee and other duties.Certificate Procedures: A streamlined process is established for obtaining property and solvency certificates within a specified timeframe.This comprehensive policy aims to bring efficiency, transparency, and compliance to the liquor industry in Jammu and Kashmir, fostering a fair and accountable system in the allocation and management of liquor vends.