The Customs, Excise and VAT Commissionerate, Narayanganj, Tuesday seized 24,021 kg of domestic and foreign yarn, worth an estimated Tk 82.68 lakh, in a raid on a warehouse in Araihazar.
A preventive team of the commissionerate conducted the raid at around 8am at a warehouse of Messrs Jahangir and Brothers at Purinda Bazar in Hajee Abdul Salam Market, according to a press release.
During the search, the team found 19,466 kg of domestic yarn and 4,555 kg of foreign yarn that lacked the required tax invoices.
The seized yarn has an estimated market value of Tk 82,68,250, the release said.
The commissionerate has already initiated legal proceedings to realise the applicable government revenue from the seized goods.
Officials did not provide further details about the source or intended destination of the yarn.