Discrepancy over 126 tonnes of bonded chemicals in Narayanganj, Tanbazar warehouse sealed
Sim Fabrics Limited in Narayanganj cannot account for 45 tonnes of chemicals imported duty-free under bond facilities. In the same district, about 81.6 tonnes of chemicals with no valid documents were found in a warehouse of MR Traders at Tanbazar. Together, the two cases involve a discrepancy over more than 126 tonnes of chemicals.
The Customs Intelligence and Investigation Directorate (CIID) under the National Board of Revenue (NBR) uncovered the cases in separate raids at Tanbazar in Narayanganj on Sunday night (1 November).
Customs intelligence has begun an investigation into the source of the chemicals and possible duty and tax evasion. The warehouse has already been sealed.
The NBR press wing said the raid found about 81.6 metric tonnes of chemicals and other raw materials, including sodium hydrosulfite, stored in the warehouse of Messrs MR Traders. The firm could not produce any documents for importing, purchasing or lawfully storing the goods. The warehouse was therefore sealed along with the stored goods.
Acting on the same line of allegations, customs intelligence also raided Sim Fabrics Limited. The firm had imported 45 metric tonnes of sodium hydrosulfite from India under bond facilities on 17 October. During the raid, however, it could not show any stock of the imported chemicals.
The CIID is therefore examining whether the duty-free bonded chemicals were sold on the open market instead of being used in production, or moved elsewhere.
Customs intelligence sources said that on one side the bonded chemicals are unaccounted for, and on the other a huge quantity of chemicals was found in a non-bonded firm's warehouse without valid documents. Whether the two cases are linked is being investigated with importance.
The investigation will determine the actual source of the seized chemicals, their import and purchase-sale information, any misuse of bond facilities and the amount of possible revenue evasion, customs intelligence sources said.
