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    Detectives Hunting For 105 Crores Taka Worth Cloths


Two Truck Bond Cloths Confiscated
Detectives Hunting For 105 Crores Taka Worth Cloths


OurtimeBD.com
29.08.2017

Reported by: Ismail Hussain Emu
Written by: Eshan Maitra

Customs Intelligence Team confiscated 3 trucks with 19.75 tons bonded cloths worth of 2 crores taka. The trucks were the cloths at open Islampur market, those were meant for exporting. Rather, Turag Messrs Mastex Industries was trying to get away with 50 lacs taka tax evasion.
The government provides a special privilege for garments companies, by giving them the bond of opportunity to import raw-materials. But, in exchange they have to export all the clothes produced from that raw-materials. But companies Turag Messrs Mastex Industries had been evading crores worth tax money by not exporting all their products. Country loses hefty amount of national revenue for them.
The Customs Intelligence estimated this company has distributed 105 crores taka worth bonded cloths within the country instead of exporting, since 2015. Only 16.7% of their bonded products were actually exported.


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