Narayanganj:The Customs, Excise and VAT Commissionerate in Narayanganj has initiated legal action against JAMAL YARN TRADING, accusing the company of evading Tk 40.39 crore in value-added tax (VAT) from January 2022 to August 2026.
According to Bangladesh Sangbad Sangstha, the enforcement team from the commissionerate conducted an unannounced inspection at the firm's location on S.M. Maleh Road, Tan Bazar, Narayanganj Sadar. During the inspection, they seized various business records, including documents, registers, account books, invoice books, and a statement signed by a company representative. The firm was unable to provide VAT-related documentation at that time.
The initial review of the seized documents revealed that JAMAL YARN TRADING failed to issue VAT invoices during sales, violating the Value Added Tax and Supplementary Duty Act, 2012. Records indicated that the firm conducted yarn sales totaling Tk 659.14 crore between 2022 and 2026, with applicable VAT rates of 5 percent and 7.5 percent resulting in a VAT liability of Tk 40,40,44,442.
However, the firm's VAT returns (Mushak-9.1) only reported sales of Tk 39,16,53,230 for the period from January 2022 to August 2026, and they deposited merely Tk 1,33,500 into the government's treasury via treasury challans. The commissionerate calculated the outstanding VAT liability to be Tk 40,39,10,942, approximately Tk 40.39 crore, after accounting for the deposited amount.
The commissionerate stated that the alleged evasion breaches several sections of the Value Added Tax and Supplementary Duty Act, 2012, and corresponding rules from the Value Added Tax and Supplementary Duty Rules, 2016. The firm's actions are considered punishable offenses under relevant clauses of Section 85. The case has been filed to recover the evaded VAT, along with any applicable penalties and interest, as per Section 127 of the Act.