Delhi Excise Blues

After a lot of queries and even more asking around, we try and crumble the Delhi Excise code and how it works.
Below is the MRP calculation in Excel sheet and explanation of how it works:

If you promise to give us good wine to taste & leave us your e-mail we will even send you the formula for calculating this in Excel sheet. So, here it goes….with the new policy the Excise fees is applicable and calculated as a percentage of declared MRP. This is 30% for a wine having a MRP of Rs 2000. However, for a wine having a higher MRP (more than Rs 2000) for example Rs 3000, the excise would be Rs 600 ( Till Rs 2000, 30% = .30*2000 = Rs 600) and Rs 200 ( 20% on the higher amount – Rs 3000 – Rs 2000= Rs 1000 @ 20% = Rs 200). Total Excise would be Rs 800.
In addition to this there would be161 % import duty including 150% duty + cess etc. With this new policy, we can safely assume that the retail price for a 5 Euro wine will be Rs 3000- 3200 in New Delhi.