Chattogram:Customs Intelligence and Investigation Directorate (CIID) has identified a significant shortage of approximately 13.35 lakh kilograms of bonded raw materials at JASS Accessories (BD) Ltd, potentially leading to duty and tax liabilities amounting to Tk 9.10 crore.
According to Bangladesh Sangbad Sangstha, a CIID team conducted an inspection at the company's Pahartali premises in Chattogram on September 28. This action followed a tip-off and was detailed in a press release issued by the National Board of Revenue (NBR).
JASS Accessories imports several types of raw materials such as LDPE, HDPE, LLDPE, PP, GPPS, HIPS, BOPP, Duplex Board, and Rubber Thread Yarn under bonded warehouse facilities, exempting them from customs duties. However, the inspection revealed discrepancies between the company's online Utilization Permission (UP) records and the actual stock in the warehouse. While records indicated that 19,20,857 kg of raw materials should have been present, only 5,85,581.2 kg were found during the inspection, leaving 13,35,275.8 kg unaccounted for.
The customs-assessable value of these missing materials is estimated to be around Tk 24.97 crore, with the applicable duties and taxes totaling approximately Tk 9.10 crore. The CIID is currently investigating whether the duty-free materials were used for legitimate production and export purposes or if they were diverted through misuse of bonded facilities.
The CIID has stated that further legal action will be pursued under relevant laws upon completion of the investigation and examination of pertinent documents.