Monday, Apr 29 2024 | Time 21:43 Hrs(IST)
image
Business EconomyPosted at: Mar 4 2024 5:50PM


INS asks govt to remove 5 pc customs duty on newsprint

New Delhi, Mar 4 (UNI) The Indian Newspaper Society has appealed to the government to reconsider the imposition of 5 per cent customs duty on newsprint saying this will be important for the survival of the print media industry in India.
“Many newsprint mills, across the world as well as in India, have either suspended their operations or ceased Newsprint production entirely, causing concerns about the continuity of supply of Newsprint across the country,” the Indian Newspaper Society (INS) said in a press statement here.
This duty, if withdrawn, would provide much-needed relief to the print media industry, allowing publishers to manage their operational costs more effectively and ensure continued dissemination of credible news and information to the public.
According to the INS, the prevailing situation of price and availability of newsprint is due to the combination of various factors such as global geopolitical uncertainties, logistical intricacies, depreciation of rupee and the prevailing customs duty on Newsprint. This has created a formidable burden on the publishers in the country.
The depreciation of rupee has added pressure on import-dependent industries like print media sector and thus petitioned the Government to do away with the imposition of 5 per cent customs duty on Newsprint.
UNI SKB AKS GNK
Please log in to get detailed story.
Tags: #INS asks govt to remove 5 pc customs duty on newsprint
More News
Prashanth Nandella elected as president of HYSEA

Prashanth Nandella elected as president of HYSEA

29 Apr 2024 | 8:52 PM

Hyderabad, April 29 (UNI) Prashanth Nandella, Chief Operating Officer, Firstsource has been elected as the President of Hyderabad Software Enterprises Association (HYSEA), at the 32nd Annual General Body meeting, for the term 2024-26.

see more..

Mahindra launches XUV 3XO

29 Apr 2024 | 7:17 PM

Mumbai, April 29 (UNI) Mahindra & Mahindra Ltd., India's leading SUV manufacturer, on Monday launched the XUV 3XO.

see more..

Coromandel begins project work for Rs 1,000 cr Phosphoric, Sulphuric Acid plants in AP

29 Apr 2024 | 7:06 PM

Chennai, Apr 29 (UNI) Coromandel International Limited, India’s leading agri solutions provider,
has commenced the project activity to set up its Phosphoric Acid-Sulphuric Acid complex facility
at Kakinada in Andhra Pradesh.

see more..

29 Apr 2024 | 7:05 PM

New Delhi, April 29 (UNI) KPIT Technologies, an independent software integration partner to the automotive and mobility ecosystem for making software-defined vehicles a reality, on Monday announced about 5.8 per cent jump in net profit at Rs 164.4 crore during Q4 (January-March) period of financial year 2023-24.

see more..

29 Apr 2024 | 6:46 PM

New Delhi, April 29 (UNI) Non-banking finance company Poonawala Fincorp on Monday said it has registered a 25 per cent jump in net profit at Rs 332 crore during Q4 (January-March) of FY 2023-24.

see more..
image