Misuse of bond facility: Joint Collection fined Tk95 lakh
The company paid a total of Tk1.80cr including the Tk85 lakh as VAT for the imported fabrics
Customs bond authority fined Messrs Joint Collection Tk95 lakh as it was transporting eight covered vans full of fabrics imported under the duty-free bond facility from Chattogram to Dhaka.
On a tip-off, the customs bond authority learned that the company sourced Tk95 lakh worth of fabrics from various importers to sell them in the open market. The Value-Added Tax (VAT) for these fabrics is nearly Tk85 lakh.
Customs bond authority confiscated the goods on 30 March from the Faujdarhat area before filing a case against Joint Collection on 13 April.
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Sources at the customs bond offices said the Dhaka-based Joint Collection applied to get the confiscated covered vans and fabrics released on 17 April.
AKM Mahbubur Rahman, commissioner of the Customs Bond Commissionerate, Chattogram said, the company was directed to pay the fine of Tk95 lakh along with Tk85 lakh as VAT for the fabrics.
Later, the customs authority released the covered vans and the goods after the company paid TK1.80 crore.
