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Union Budget 2019 Proposes 10 Percent Custom Duty on Newsprint

The Indian Newsprint Manufacturers Association has welcomed the decision. They claimed that duty-free cheap imports were making domestic mills unsustainable.

Union Budget 2019
The decision is expected to have a significant impact on the industry as most of India’s newsprint requirements are met through imports.

Union Finance Minister Nirmala Sitaraman in her maiden budget speech has imposed 10 percent import duty on newsprint and 5 percent import duty on printed books. There was no import duty levied on newsprint until now.

During addressing the Parliament with Union Budget for 2019-20, Finance Minister Nirmala Sitharaman mentioned that to encourage domestic publishing and printing industry, 5 percent custom duty is being imposed on imported books. Imported newsprint, uncoated paper used for printing of newspapers and lightweight coated paper used for magazines will now attract 10 percent custom duty.

The duty would be levied on both the uncoated paper used for printing of newspapers and lightweight coated paper used for magazines. The 10 percent basic customs duty (BCD) has come into effect from Sunday, according to a notification the revenue department of the finance ministry issued soon after the budget announcement.

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