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The Customs, Excise and VAT Commissionerate, Narayanganj, has seized around 24,000 kilograms of domestic and foreign yarn worth Tk82.68 lakh from a warehouse in Araihazar upazila for lacking required tax invoices.
According to a press release issued by the National Board of Revenue (NBR) today, the seized yarn has an estimated market value of Tk82,68,250.
A preventive team of the commissionerate raided a warehouse belonging to Messrs Jahangir and Brothers at Haji Abdul Salam Market in Purinda Bazar of Araihazar around 8:00am.
During the raid, the team found domestic and foreign yarn without the required tax invoices.
The seized consignment comprised 19,466kg of domestic yarn and 4,555kg of foreign yarn.
The commissionerate has initiated legal proceedings to realise the applicable revenue, the release said.