Customs officials have seized 87,390 kg of yarn, including imported polyester and nylon yarn, worth an estimated Tk 3.2 crore from an unregistered warehouse in Narayanganj for lacking tax invoices.
A preventive team of the Customs, Excise and VAT Commissionerate, Narayanganj, conducted a raid on the warehouse of SR Trade, owned by Rajib Saha, in Jimkhana, Tanbazar, Narayanganj Sadar, at 11:00am on Monday following a tip-off.
During the search, according to a press release, the team found 77,390 kg of polyester and nylon yarn originating from China, Malaysia and Vietnam without the required tax invoices.
Another 10,000 kg of locally produced yarn was also found without tax invoices.
The customs officials seized all the yarn, whose estimated value is Tk 3.2 crore, according to a press release issued by the commissionerate.
The authorities have initiated legal proceedings to realise the applicable government revenue.