Union Budget 2019-20: Taxes

Budget 2019-20: Govt. slaps 10% customs duty on newsprint

The government on Friday imposed 10% import duty on newsprint and 5% import duty on printed books. There was no import duty on newsprint so far.

“To encourage domestic publishing and printing industry, 5% custom duty is being imposed on imported books,” Finance Minister Nirmala Sitharaman said while presenting the Union Budget for 2019-20 in the Parliament.

Under this, printed books including covers for printed books and printed manuals, will attract duty.

Coated paper

In addition, imported newsprint, uncoated paper used for printing of newspapers and lightweight coated paper used for magazines will now attract 10% custom duty. This decision is expected to have a significant impact on the industry as most of India’s newsprint requirements are met through imports.

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Printable version | Jul 22, 2021 7:52:04 AM | https://www.thehindu.com/business/budget/union-budget-2019-20-govt-slaps-10-customs-duty-on-newsprint/article28297514.ece

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