Withdraw 10% custom duty imposed on newsprint: INS appeals GOI
New Delhi, July 09: The Indian Newspaper Society (INS) has requested the Government of India to withdraw the 10% custom duty imposed on newsprint, uncoated paper used for printing of Newspapers and light weight coated papers used for magazines.
In a statement issued to media, a spokesman of INS said, “Publishers of Newspapers and Magazines are already reeling under severe financial pressure due to many factors like lower advertisement revenues, higher costs and digital onslaught from technological giants. Small and Medium newspapers will go into deeper losses and many of them will be forced to close down.”
“The total consumption of Newsprint in India is estimated at 2.50 million tonnes p.a and the capacity of the domestic industry is only 1.0 million tonnes. In the case of uncoated (glazed) and light weight coated (LWC) paper there are no domestic manufacturers,” the spokesman said.
“INS calls for urgent intervention of the Government to save Indian newspaper industry by scrapping the unbearable burden imposed on it,” the spokesman added.