Mumbai, July 21 -- In a damning audit report, the Comptroller and Auditor General (CAG) of India has exposed massive irregularities and mismanagement within the Maharashtra State Excise Department, resulting in a staggering revenue loss of over Rs 245 crore

The CAG revealed that due to incorrect assessments during licence renewal, the state exchequer lost Rs 20.15 crore in fees and an additional Rs 70.22 crore in interest. The department's failure to implement revised supervision fee rates further cost the government Rs 1.20 crore.

One of the most glaring lapses noted in the audit was the excise commissioner's unauthorized decision to exempt old stock of beer from duty-without prior approval from the state government-leading to signific...