VAT Evasion Detected
Online fashion retailer Faces Tk 37.6m Revenue Evasion
- CPU and business records seized during raid
- Legal action and recovery proceedings are underway
Customs, Excise and VAT Commissionerate, Dhaka (West) has detected an estimated Tk 37.6 million in revenue evasion involving popular online fashion retailer ‘J Creation’. The authorities identified the preliminary evasion after examining the company’s sales information and seized business records. Legal proceedings, including a case to recover the unpaid revenue, are now underway.
September 15, Tuesday: The National Board of Revenue (NBR) confirmed the development through its Public Relations Department.
According to the NBR, Customs, Excise and VAT Commissionerate, Dhaka (West) conducted a surprise raid at J Creation in Mirpur on Sunday (September 13) following a tip-off.
J Creation operates primarily as an online fashion retailer, selling panjabis, sherwanis and other ready-made garments.
During the raid, the VAT authorities found indications of possible evasion. For further verification, officials seized the company’s CPU and relevant documents under Mushak-12.3.
The authorities then examined the company’s sales information and seized records over the following two days. Based on the preliminary assessment, around Tk 37.6 million in revenue evasion was detected on Tuesday.
As the business operates primarily through online channels, digital sales records and computer-based business data were among the materials examined during the verification process.
The NBR said the seized documents are undergoing further scrutiny. Legal action, including filing a case for recovery of the evaded revenue, is currently in progress.
//DBTech/Reporter/sub-Editor//
