36 textile mills abused duty benefit while importing capital machinery
Release time:
2020-11-06
Thirty-six textile mills, located in Narsingdi, imported 30,350 power looms in the last five years to make clothes under a one-percent concessionary duty benefit for capital machinery import.
The owners of the mills, however, neither set up the factories nor used the looms for production, according to sources at the National Board of Revenue (NBR).
Other than 16 percent of the power looms imported over that duration, the 36 mills sold the rest of the machines in the local market, depriving the state from getting its due revenues, the NBR source said.
In a sudden visit to these textile mills recently, officials of VAT Commissionerate, Dhaka (East) detected abuse of the duty benefit for importing capital machinery.
The NBR field office detected evasion of duty and VAT of nearly Tk 39 crore in the last five years by the 36 mills.
Tasmina Hossain, commissioner of VAT Commissionerate of Dhaka East, wrote to Chattogram Customs House yesterday asking it to increase vigilance during release of consignments imported by these firms.
The Daily Star has collected a copy of the letter.
Previous Page
Next Page
Previous Page:
Next page:
A fresh start to the new year, a new chapter begins. The resumption of work rate for printing and dyeing enterprises has reached 100%. During the resumption of work, the terms "intellectualization" and "digitalization" are being increasingly mentioned and valued by printing and dyeing enterprises.
At the beginning of the new year, the prices of various raw materials and fabrics are rising like a rocket. With meager profits or even losses, the entire dyeing industry is facing enormous pressure. To balance production costs, raising dyeing fees has become imminent.
Spring is brilliant, winter is warm. On this beautiful day, Guangzhou Hongjing Lab Equipment Co., LTD and Guangzhou Hongtong Machinery Co., Ltd. held the 2020 Annual Work Summary and Outstanding Employee Commendation Conference in the Hongtong Standard Dyeing and Finishing Laboratory Conference Hall.
PANTONE Color of the Year 2021
PANTONE 17-5104 Ultimate Gray and PANTONE 13-0647 Illuminating, two independent colors, highlight how different elements can support each other, best expressing the spirit of the PANTONE 2021 Color of the Year.
Contact Us
MS.JINGHUA ZHOU (Emily)
mobile:（+86）13925171028
Company address: Building B2, No. 3823 Guangxia Road, Baiyunhu Street, Baiyun District, Guangzhou City
E-mail:export33@gzhongjing.com