The VAT intelligence has claimed that Nasir Glass Industries Limited has evaded Tk 14.66 crore in value-added tax (VAT).

A case has been filed under the VAT Act against the glass manufacturing factory in Shreepur of Gazipur, VAT Audit, Intelligence and Investigation Directorate (VAIID) said in a statement today.

A team the VAT Intelligence reviewed the annual audit report of the factory and data obtained from copies of treasury invoices submitted by the company at different times from July 2014 to June 2018, said VAIID, a field office of the National Board of Revenue (NBR).

After investigation, they found that Nasir Glass Industries Limited,  one of the largest glass manufacturing factory in the country, paid a VAT of Tk 2.09 crore but the actual amount of VAT payable by the company was Tk 5.29 crore.

In this case, the company evaded VAT of Tk 3.20 crore. Under this VAT Act, the interest of Tk 1.52 crore is applicable at the rate of 2 per cent monthly.

Besides, the intelligence has found unpaid VAT of Tk 8.01 crore in some cases of the company. And, the interest of Tk 1.92 crore is applicable at 2 per cent rate.

During the period of investigation, the company evaded VAT of about Tk 11.22 crore and with Tk 3.44 crore interest, the total VAT evasion will be about Tk 14.66 crore.

The case has been sent to the concerned VAT Commissionerate (Dhaka North) for taking legal action to recover the evaded VAT, VATAIID said in the statement.

At the same time, the concerned VAT commissioner has been requested to further monitor the activities of the organisation, it added.

This correspondent tried to reach Nasir Uddin Biswas, chairman and managing director of Nasir Group, over phone and sent SMS to his mobile number for his comment but he did not respond to the call.