Play store
The Customs Intelligence and Investigation Directorate (CIID) has uncovered an attempt to evade customs duties and taxes by misdeclaring chemical products under a lower-taxed HS code, recovering around Tk2.39 crore in evaded revenue, penalty and release fine.
The irregularity was detected in a consignment imported by OSL Pharma Ltd following intelligence activities by the CIID’s Benapole Circle, according to a National Board of Revenue (NBR) press release issued on Thursday.
Acting on a tip-off, customs officials physically examined the consignment, which had a declared net weight of 30,360 kg.
The importer declared the goods as epoxide resin under HS Code 39073000, which carries a total tax incidence (TTI) of 33.63 percent. Based on the declaration, customs assessed duties and taxes at Tk1,01,63,070.
During the physical inspection, officials found two types of chemical products in the consignment and sent samples to Khulna University of Engineering & Technology (KUET) for laboratory analysis.
The laboratory report identified the samples as epoxide resin and polyamide resin. It also found that the two components, when mixed in specified proportions, produce adhesive.
Under the relevant provisions of the Customs Tariff, the two complementary components imported together could be used directly as a single finished product. Authorities therefore classified the consignment as prepared adhesive under HS Code 35069190, which carries a TTI of 76.50 percent.
The NBR said the declared HS code resulted in duties and taxes of Tk1,01,63,070, while application of the correct HS code created an additional revenue liability of Tk1,17,23,103.
Following an adjudication order by Customs House, Benapole, authorities recovered Tk1,17,23,103 in evaded revenue, imposed a monetary penalty of Tk1.20 crore and collected Tk2 lakh as a release fine.
The total amount recovered for the government stood at Tk2,39,23,103.
The CIID said it was working to prevent such revenue evasion through physical inspections, scientific laboratory analysis and proper application of the Customs Tariff to ensure accurate classification of chemical products.