China's Silver Exports Rise MoM in Aug, Imports increase 74.3%; Ore Imports Up 39% YoY

[SMM Precious Metal Express] The Indian government confirmed that banks and designated agencies no longer enjoy the 3% IGST exemption on gold, silver and platinum imports. The change does not impose a permanent additional tax burden, but requires upfront tax payment at import, increasing short-term financing needs and working capital requirements for importers. The exemption expired on March 31 without renewal, and some importers have already been paying the tax in recent months. With India's gold consumption peak season starting in mid-October, funding pressure on importers is set to increase further.