Goa and Rajasthan introduce new FY 20-21 alcobev excise policy

Alcobev tax stamps with secure holograms for authentication Photo IHMA

According to an international trade body, plans for new holographic tax stamps in Asia bear witness that the engineering science continues to be an effective device in the battle to secure global alcohol revenues. The International Hologram Manufacturers Association (IHMA) was commenting on moves by Goa and Rajasthan in India to introduce a new excise policy for the fiscal year 2020-21, which volition feature holographic tax stamps as a fundamental plank of measures to protect alcohol revenues.

The two states' just-announced plan would bring the full number of states in India adopting tax stamps to 25 equally the country continues to fight the criminals who trade in illicit alcohol across the Asia subcontinent. Excise duty on booze is a disquisitional source of government revenue while providing a way of controlling and limiting consumption, says the IHMA.

However, illicit smuggling and counterfeiting toll treasuries billions of dollars a year in lost revenue. And the price is non only a financial ane affecting governments – drinks manufacturers tin can see brands tarnished, revenues tumble, and market place capitalization dented through the counterfeiting of their products.

In Goa, which currently has no booze tax stamps, liquor prices take risen 50% since April 2020, as have excise duties on Indian foreign liquor sales. At that place, officials are finalizing proposals to introduce a holographic revenue enhancement stamp, which will exist applied to each canteen of alcohol to assist in its authentication.

In northwest Bharat, the country of Rajasthan is planning to re-innovate booze excise stamps after a 10-yr absence. This is apparently a move to tackle concerns over increases in inter-land smuggling and the sales of illicit liquor.

Tax stamps serve two purposes, according to the IHMA. 1 is to provide a record of payment of tax, while the other is to provide testify that the stamp – and hence the product to which it is affixed, is genuine.

Dr Paul Dunn, chair of the IHMA, Photo IHMA

Dr Paul Dunn, chair of the global trade trunk, said information technology's articulate that the news from India shows that governments and agencies worldwide continue to rely on and value holograms as an effective, reliable, and dynamic security solution.

"It's credible that the benefits of holographic-based tax postage stamp programs are welcomed by both suppliers of components, products and systems to the drinks sector and officials with responsibility for securing tax revenues," he said.

"While holographic tax stamps are widely accepted and constructive authentication devices, there is no better opportunity than the current pandemic for governments and treasuries to act decisively. They tin secure alcohol excise revenues by standing to use engineering science as an integral role of their strategies."

ISO 12931 and ISO22282 standards

The use of well-designed and properly deployed authentication solutions, equally advocated past the ISO12931 standard, enables examiners to verify a legitimate product'south authenticity, differentiating it from fake products coming from counterfeiting hot spots in Asia and eastern Europe. Even those that carry a 'simulated' authentication characteristic can be distinguished from the genuine detail if that item carries a carefully thought-out hallmark solution.

The tax stamp standard ISO22282, which assists tax authorities to ameliorate compliance with excise taxation regulations by providing guidance on tax postage procurement, construction, security, issuance, and exam, references the uses of holograms for tax stamps.

The IHMA (www.ihma.org) comprises more than than 90 of the world'south leading hologram companies. Members include the leading producers and converters of holograms for banknote security, anti-counterfeiting, brand protection, packaging, graphics, and other commercial applications effectually the globe, and actively cooperate to maintain the highest professional, security and quality standards.

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Source: https://packagingsouthasia.com/type-of-article/editorial/goa-and-rajasthan-introduce-new-fy-20-21-alcobev-excise-policy/