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13.35 lakh kg bonded raw materials missing from JASS Accessories
Customs Intelligence and Investigation Directorate (CIID) has found a shortage of around 13.35 lakh kilograms of bonded raw materials at JASS Accessories (BD) Ltd in Chattogram, involving potential duty and tax liabilities of Tk 9.10 crore.
A CIID team conducted an inspection at the company's premises at Pahartali in Chattogram on September 28 following a tip-off, said a press release of the National Board of Revenue (NBR) issued today.
The company imports various raw materials, including LDPE, HDPE, LLDPE, PP, GPPS, HIPS, BOPP, Duplex Board and Rubber Thread Yarn, under bonded warehouse facilities without paying customs duties.
During the inspection, the team compared the stock recorded in the company's online Utilization Permission (UP) records with the physical stock in the bonded warehouse.
The records showed 19,20,857 kg of raw materials should have been in stock, but the team found only 5,85,581.2 kg.
Thus, 13,35,275.8 kg of raw materials remained unaccounted for.
According to the latest bills of entry, the customs-assessable value of the unaccounted materials is around Tk 24.97 crore, while the applicable duties and taxes stand at approximately Tk 9.10 crore.
The CIID is investigating whether the duty-free imported materials were properly used for approved production and export activities or diverted elsewhere through misuse of bonded facilities.
Further legal action will be taken under the applicable laws after completion of the investigation and examination of relevant documents, the CIID said.
