Budget 2020: FM halves customs duty on import of newsprint to 5%
The move, Finance Minister Nirmala Sitharaman, said was to reduce burden on print media at a time when it is going through a difficult phase
Finance Minister Nirmala Sitharaman has announced that the customs duty on import of newsprint has been reduced to 5%.
The Budget statement says: “In the previous budget, basic custom duty of 10% was imposed on the news print and lightweight coated paper. However, since then I have received several references that this levy has put additional burden on print media at a time when it is going through a difficult phase. I, therefore, propose to reduce basic customs duty on imports of news print and light-weight coated paper from 10% to 5%.”
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