CCH imposes penalty worth Tk 36m on PSI company
Tuesday, 27 November 2007
FE Report
Chittagong Customs House (CCH) has imposed a penalty worth Tk 36 million (3.61 cr) on PSI (pre-shipment inspection) company Cotecna for wrong certification on import of betel nuts.
The CCH unearthed under-valuation on 21 'chalans' of betel nuts imported from Thailand.
It has imposed the penalty equivalent to duty-losses and due certification fees, suspending the claim of certification fees of those products.
The CCH ordered the PSI company to deposit the amount within 30 days with treasury of the house (Sonali bank).
Chittagong Customs House Commissioner Md Lutfor Rahman recently issued the order to the PSI company.
Earlier, the Customs House issued a show-cause notice to the company, but it failed to come out with any satisfactory reply, sources said.
The PSI company had issued 21 clean reports of finding (CRF) certificates with the valuation ranging from $200 to $300.
Following the CRF reports the customs authority has released the products, but later it unearthed irregularities receiving complaints of under-valuation.
The Customs House has found the actual price at above $904 on import of per tonne betel nuts.
Chittagong Customs House (CCH) has imposed a penalty worth Tk 36 million (3.61 cr) on PSI (pre-shipment inspection) company Cotecna for wrong certification on import of betel nuts.
The CCH unearthed under-valuation on 21 'chalans' of betel nuts imported from Thailand.
It has imposed the penalty equivalent to duty-losses and due certification fees, suspending the claim of certification fees of those products.
The CCH ordered the PSI company to deposit the amount within 30 days with treasury of the house (Sonali bank).
Chittagong Customs House Commissioner Md Lutfor Rahman recently issued the order to the PSI company.
Earlier, the Customs House issued a show-cause notice to the company, but it failed to come out with any satisfactory reply, sources said.
The PSI company had issued 21 clean reports of finding (CRF) certificates with the valuation ranging from $200 to $300.
Following the CRF reports the customs authority has released the products, but later it unearthed irregularities receiving complaints of under-valuation.
The Customs House has found the actual price at above $904 on import of per tonne betel nuts.