India's Finance Ministry raised the import tax on platinum from 10.75% to a total of 15.4%, IIFL Securities reported. The publication said it assumed the rate hike was intended to close a loophole that permitted huge profits for metals importers since some importers brought in refined gold masked as a platinum alloy. The import tax on gold stands at 15%, while tax on platinum alloy is 10% -- and the publication said it appeared there was "defect" in the official notice in that it "did not explicitly describe precious metal alloys," creating the possibility of "misdeclaration and duty evasion."

India's Directorate General of Foreign Trade in an Oct. 4 notice clarified that a Sept. 28 notice banning the export of broken rice under Harmonized System code 10064000 does not apply to "Rice (5% and 25%)." The DGFT said that the normal rice had already been exempted and is not broken rice since it has permissible limits of broken rice. However, the exempted rice -- Rice (5% and 25%) -- will be subject to a 20% duty, per the original notice (see 2209090017), the DGFT said.

Sri Lanka recently lifted import bans on 159 goods, including “agricultural implements, industrial machinery, building materials, furniture and kitchenware,” machine parts, apparel and more, the Hong Kong Trade Development Council reported Oct. 3. The restrictions were put in place in August, requiring the imports to be accompanied with licenses or “special” approvals. HKTDC said Sri Lanka will review its list of import-restricted items every two weeks, “taking into consideration private sector recommendations.”

China voiced its opposition to the U.S.'s recent sanctions move on Iran, a spokesperson for the Ministry of Foreign Affairs said during a regular press conference Sept. 30 in Beijing, according to a transcript provided in English. The Office of Foreign Assets Control on Sept. 29 sanctioned a group of companies that have sold hundreds of millions of dollars' worth of Iranian petrochemicals and petroleum goods to end users in Asia (see 2209290045). The companies included Hong Kong-based Sierra Vista Trading and China-based Zhonggu Storage and Transportation and WS Shipping. The spokesperson said China always stands opposed to unilateral sanctions, and said the country has "conducted normal cooperation with Iran within the framework for international law." The spokesperson said the U.S. must ditch its practice of using sanctions "at every turn" and do more to reimpose the Iran nuclear deal.

The Singapore Customs TradeNet will undergo system maintenance Oct. 9 from 4 a.m. to 12 p.m., it said Sept. 26. Singapore Customs advises users to avoid submitting applications during this time. This is in addition to the usual 4 a.m. to 8 a.m. Sunday maintenance.

India extended the period of enforcement of its existing Hand Book of Procedures for another six months, the Directorate General of Foreign Trade said in a Sept. 29 notice. The procedures handbook was set to expire Sept. 30 but has now been extended to remain in force until March 31, 2023. The DGFT also amended the procedures to extend the time to file returns for the year 2022-23 related to the Export Promotion Capital Goods Scheme, from Sept. 30 to Dec. 31.

Hong Kong’s Trade and Industry Department opened the application period for its Air Transhipment Cargo Exemption Scheme for 2023. The scheme allows certain parties, including airlines, ground handling agents and freight forwarders, to benefit from exemptions from certain conditions and licensing requirements for air shipments of “strategic commodities,” the agency said Sept. 29. Applications are due on or before Nov. 3.

India's Directorate General of Foreign Trade in a Sept. 27 notice extended the period for permissible exports of consignments of broken rice until Oct. 15. The broken rice trades under Harmonized System code 1006.40.00, and the "free" period of exporting was to have ended Sept. 30 (see 2209090017).

China's vice commerce minister said declining overseas demand for Chinese goods is the biggest threat to its international trade sector, Bloomberg reported. Speaking Sept. 27 at a press conference, Wang Shouwen said that despite this threat, he expects foreign trade to grow in the second half of the year. "The slowdown in external demand is the biggest uncertainty faced by China’s trade,” the minister said. “Our companies are reporting falling orders, as the demand from major markets is declining.”

China's General Administration of Customs in a Sept. 26 notice laid out steps it would take to strengthen its customs supervision and boost trade facilitation for "transit goods," according to an unofficial translation. Transit goods refer to goods shipped from overseas that continue to be shipped to a different country via land routes in China.