India recently extended its export rebate scheme until March 2024, allowing textile traders to continue receiving rebates on central and state taxes for their exports for several years, the Hong Kong Trade Development Council reported July 27. The maximum rebate rate of 6.05% will apply to apparel exports and an 8.2% rate will apply to “made-ups,” which include home textile products such as bed linens, curtains, pillows and carpets, HKTDC said. The scheme is also expected to benefit input imports because exporters receive a “Duty Credit Scrip to the value of the embedded taxes and levies relating to any exported product,” the report said. The scrip can be used to pay customs duties on imported equipment “or other inputs or traded with other importers.”
India introduced a new document for parties seeking revalidation of export authorization under the Special Chemicals, Organism, Material, Equipment and Technologies (SCOMET) export control, the Directorate General of Foreign Trade said July 27. The new form, dubbed ANF 20(d), will “facilitate the trade and industry” to file applications for revalidation of SCOMET export authorization.
India's Directorate General added two Harmonized System codes to its Merchandise Exports from India Scheme regulation on July 27. HS codes 30036000 and 30046000 covering "Other, containing antimalarial active principles described in Sub-heading Note 2 of chapter 30 of ITC HS" are eligible for MEIS benefits for exports made Jan. 1, 2017, to Dec. 31, 2020, at the rate of 3%.
India recently extended its implementation date for upcoming changes to standards for infant nutrition foods, the U.S. Department of Agriculture Foreign Agricultural Service reported July 23. The standards, which will place new requirements on certain imports, will now take effect April 1, 2022, the report said. India said it received several requests from industry to delay the implementation date.
Sri Lanka recently announced stricter regulations surrounding import delivery fees and import container deposit refunds, the Hong Kong Trade Development Council reported July 23. The country set the maximum delivery order fees payable by importers at $55 for full container loads and $63 for loose cargo loads, HKTDC said. The country also set a cap on the maximum delivery order fee that vessel operators or shipping lines can charge a freight operator: $45 for full container loads and $50 for loose cargo loads. Sri Lanka also mandated that service providers refund import container deposits within 30 days of a container being returned to a depot, assuming the relevant paperwork has been completed, the report said.
The Singapore Customs TradeNet will undergo system maintenance Aug. 8 4 a.m. to 4 p.m. and Aug. 15 4 a.m. to 4 p.m. local time, it said July 23. Singapore Customs advised users to avoid submitting applications during this time. This is in addition to the usual 4 a.m. to 8 a.m. Sunday maintenance.
Importers in India may revalidate their Advance Authorisations only once for a period of 12 months from the authorizations' expiry date issued on or after Aug. 15, India's Directorate General of Foreign Trade said in a July 22 notice. The Advance Authorisations Scheme allows the import of inputs to be conducted duty-free if they are physically incorporated in a product designated for export, the DGFT's website said. The update changes the revalidation procedures from two revalidations of six months each to one revalidation of 12 months. The July notice also allowed submissions for the authorizations to be made online.
The Guangdong Provincial Development and Reform Commission in China recently began a trial implementation of a policy that would eliminate import duties on goods related to foreign-invested projects “encouraged by the state,” the Hong Kong Trade Development Council reported July 23. The pilot policy applies to projects “with a total investment” under $300 million and would last for two years. Entities involved in the projects may apply for import duty remissions and exemptions, HKTDC said.
China announced retaliatory sanctions on six U.S. people and one entity in response to the U.S.'s Hong Kong Business Advisory and sanctions on Hong Kong officials (see 2107160030), China's Foreign Ministry spokesperson said July 23. The sanctions target Wilbur Ross, former secretary of commerce; Carolyn Bartholomew, chair of the U.S.-China Economic Security and Review Commission; Jonathan Stivers, former staff director of the Congressional-Executive Commission on China; DoYun Kim of the National Democratic Institute for International Affairs; Adam King, senior program manager of the International Republican Institute; and Sophie Richardson, China director at Human Rights Watch. China also sanctioned the Hong Kong Democracy Council. China said the U.S.'s updated Hong Kong business advisory was created to "groundlessly smear Hong Kong's business environment."
Nepal and India recently agreed to share access to India’s freight services “to convey freight to, from and around Nepal,” the Hong Kong Trade Development Council reported July 21. The agreement will allow all cargo train operators to use the Indian railway network to ship Nepal’s containers and freight, either between India and Nepal or to a third country “via an Indian port facility,” HKTDC said. The deal is a “significant step by India as it looks to improve regional connectivity,” the report said.