Top Story

e4m_logo.png

Home >> Media – Print >> Article

Magazine publishers gear up for "long-drawn" struggle to revoke 12% GST on LWC paper

18-July-2017
Font Size   16
Share
Magazine publishers gear up for "long-drawn" struggle to revoke 12% GST on LWC paper


After firing a letter to the Union Revenue Secretary asking for the removal of 12% GST (goods and services tax) on lightweight coated paper (LWC),  magazine publishers are gearing up for a “long-drawn” struggle with the government. Though industry sources indicated that a meeting is being sought with Hasmukh Adhia later this week, the publishers are aware of the fact that the Revenue Secretary alone will not be able to reverse the decision. Being pragmatic, magazine representatives don’t expect relief in less than two-three months’ time during which they would have to bear the increased taxation burden. 

 

Given the scenario, publishers will seek the retrospective removal of the tax since it came into effect on July 1. Industry sources agreed that the government will not respond easily because the policy formulation has already happened. However, the magazines are pinning their hopes on Union Information & Broadcasting Minister Venkaiah Naidu and I&B Secretary NK Sinha. They expect the MIB to recommend their case to the GST council for further consideration. 

 

Kerala Finance Minister TM Thomas Isaac and his West Bengal counterpart Amit Mitra are being zeroed in as individuals who could push the case of publishers before the GST council because the final decision rests with that body. In a letter addressed to the Revenue Secretary on July 11, the Association of Indian Magazines (AIM) had come down heavily on the government’s decision to levy a higher tax rate on LWC paper. The association demanded that magazines be treated at par with newspapers as per the provisions of the Press & Registration of Books Act, 1867. “We request you to please withdraw the GST levied on LWC paper up to 70 gsm completely or at least bring it to 5% and ensure parity with newspapers,” said the letter.

Anil Uniyal, CEO, Bloomberg|Quint, on his business objectives, the reason behind pushing back the launch of the channel and more

Oracle India believes that marketing has entirely evolved because of the change in the buying process of customers

Dennis Oudejans, CEO, AdVoice, on the journey so far, targeted AdVoice networks and his vision for the company

Aparna Bhosle, Business Cluster Head - Premium & FTA GEC channels - ‎ZEEL, on its new property, sponsors, investment on acquisition and response to BBC First

Accessible luxury footwear brand Oceedee has launched its digital-first brand campaign to unveil its proposition - Strut Your Quirk

A stylish new global advertising campaign celebrating the art of living well – the ‘Art of Savoir-Vivre’ - brings to life the heart and soul of Belmond and its global travel experiences –a world full...