Papers seek duty shield, GST recast

摘要

Ahike in the customs duty on imports and the rationalisation of the goods and service tax on certain categories of paper are some of the key demands that domestic paper manufacturers will place before the Centre for consideration. According to data from the Indian Paper Manufacturers Association (IMPA), the apex body representing the interest of the Rs. 60,000-crore domestic pulp and paper industry, in the last seven years, imports of paper, paperboard and newsprint have grown at a compounded annual growth rate of 10.85 percent in value terms and 8.54 percent in volume terms. This is exacerbated by the policy of extending preferential tariff treatments. According to the association, under the India-Asean free trade agreement, the basic custom duties have been progressively reduced to nil from January 2014. Also, under the India- Korea comprehensive economic partnership agreement, the basic customs duty has been brought sown to zero from January 2017.