INS urges the government to withdraw the 10% customs tariff on newspaper
NEW DELHI: (INS) on Monday urged the government of India to withdraw the 10% tax on uncoated paper for newspapers and lightweight liner paper (LWC) for magazines in the General Budget.
The INS said in a press release that publishers of newspapers and magazines are already staggering under heavy financial pressure due to factors such as lower advertising revenue, higher costs and digital attacks. Small and medium-sized newspapers will sink into deeper losses and many of them will be forced to close, the statement said.
The total consumption of Indian newspaper is estimated at 2.5 million tons per year. Of this, only one million tons is produced in the country. Uncoated (enameled) paper and LWC is not manufactured in India.
The INS requested the urgent intervention of the government of India to save the Indian newspaper industry by eliminating the unbearable burden imposed on it.