Excise revenue in Odisha declines on account of demonetization
Bhubaneswar: Following demonetization of Rs 1000 and Rs 500 notes, excise revenue collection has declined in Odisha this year as compared to last year. According to the Secretary of Excise department, Bishnupada Sethy revenue collection during the year has declined to the tune of Rs 20 crore on account of demonetization.
Retail liquor business has declined by 40-50%.
Excise department sources revealed that from April 2017, online invoicing for retailers will be launched across the State. Through this initiative, retailers can directly buy stock from the depots online.
The online service was launched from Chandikhole depot today.
“The sales have declined as compared to last year. With the launch of online services, retailer can generate online invoices. After depositing the money online, they can get their stock from the depot. They don’t have to come to the corporation to deposit money or bank drafts. It will save a lot of time as the processing of transactions will be instantaneous,” said Sethy.