GSTnews item19 August 2019
Nirmala Sitharaman rejects demand for rollback of customs duty on newsprint
News Update
Nirmala Sitharaman rejects demand for rollback of customs duty on newsprint
Virtually rejecting demand for rollback of the 10 per cent customs duty on newsprint, Finance Minister Nirmala Sitharaman on Monday said the duty was imposed to promote domestic manufacturers and the importers will have to pay tax on the shipment. Newspaper industry had earlier made a representation to the finance minister for rollback of the Budget’s announcement of customs duty imposition on imported newsprint, arguing the move will put pressure on the bottomline. There was no import duty on newsprint so far. The intention of the government was to make sure that Indian manufacturers of newsprint are promoted as they were suffering due to cheaper import, she said at an event here.
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