The Maharashtra government has implemented revised excise duty rates on liquor as part of a broader fiscal strategy to enhance revenue generation. These changes are expected to impact the pricing of both Indian-made foreign liquor (IMFL) and country liquor sold within the State.
The United Spirits share price and the Radico Khaitan share price are likely to remain in focus after the Maharashtra government increased its duty on Indian Made Foreign Liquor (IMFL) by 50%-60%.
The new structure raises the excise duty on IMFL from 3 times the production value to 4.5 times the production value. For country liquor, the excise duty now ranges from ₹180 to ₹205 per proof litre. This revision follows a government-led review based on recommendations from a secretary-level study group.
According to the Chief Minister’s Office, the group analysed excise policies and practices from other Indian States to draft a strategy aimed at boosting revenue and improving regulation.
United Spirits share price is likely to be in focus on June 11. Also, Radico Khaitan share price will remain in the limelight on June 11. The United Spirits share price as of 1:20 PM was trading down by nearly 7%, while the Radico Khaitan share price slipped by nearly 3.7%.
The State government projects an annual revenue of ₹14,000 crore through combined collections of excise duty and sales tax on liquor. The revised duty framework is part of broader efforts to stabilise the State’s fiscal standing and strengthen internal resources without introducing new taxes across other sectors.
Following the changes in excise duty, the maximum retail price (MRP) for different categories of liquor has been adjusted as follows:
These figures represent the revised minimum prices and will be applicable across all licensed retail outlets in the State.
A new category named Maharashtra Made Liquor (MML), based on grain production, has received approval for manufacture exclusively by licensed Maharashtra-based producers. All MML products must be registered as new brands before production begins.
Additionally, permissions have been granted to operate FL-2 (sealed foreign liquor sales) and FL-3 (licensed hotel and restaurant rooms) licences on a lease basis. These will carry added charges of 15% and 10% of the annual licence fee, respectively.
To support the revised excise policy, the government has approved the creation of:
This move is aimed at better enforcement, licensing control, and improved tax collection mechanisms.
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The Maharashtra government’s decision to hike excise duty on liquor marks a significant fiscal development. With higher duties, updated retail prices, and the introduction of a new liquor category, the policy is expected to contribute ₹14,000 crore annually to State revenue. Simultaneously, administrative enhancements will support efficient implementation across regions.
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Published on: Jun 11, 2025, 10:30 AM IST
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