Prices of scotch whiskey and wine may fall by a third on the low-end brands, while savings on premium brands like Johnnie Walker and Chivas Regal would be in the range of Rs 350-500 per bottle on account of government scrapping additional customs duty on these spirits.
According to leading importers of wines and spirits, the prices would come down to two-third from the existing tag, once the authorities start implementing the notification of the Central Board of Excise and Customs.
However, this would be in the case of those wines whose CIF (cost, insurance, freight) is in the range of $40 (Rs 1,600)
per case.
This is the segment accounting for the maximum imports, industry sources said. India announced removal of additional customs duty up to 150 per cent on imported liquor, after the European Union and US dragged it to the World Trade Organization, complaining that New Delhi was flouting rules of the multilateral body.
In 2006-07, total sale of imported wines and spirits in India was 10,000 cases valued at around $600,000. As per the present duty structure, close to $40 per case of 12 bottles of wine is imposed by way of additional customs duty over and above the basic duty of 100 per cent.
