BSRM settles Tk 13cr in unpaid VAT

Published : 15 Jan 2022 08:00 PM

BSRM has paid Tk 13.30 crore to the government in unpaid Value Added Tax (VAT) on Thursday.

A recent audit by the VAT Audit, Intelligence and Investigation Directorate under the National Board of Revenue (NBR) found that BSRM group's two stainless steel companies had evaded the amount in VAT. 

Of the two steel mills, the BSRM Steel Mills Limited is located in Faujdarhat, Chattogram, and the other, BSRM Re-rolling Mills Limited is in Sadarghat, Chattogram.

A team of VAT intelligence led by its Assistant Director Munawar Mursalin intelligence conducted audits into the two institutions.‎

During the investigation, BSRM Steel Mills Limited was found dodging Tk 6.62 crore. 

On the other hand, BSRM Re-rolling Mills Limited evaded Tk 23.79 lakh.

The two companies also had to pay 2 percent interest on top of the total unpaid VAT.