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Customs bust garment racket

by Bharatha Malawaraarachchi

Customs officials have busted a racket by a leading garment company in the Colombo city which had released a stock of readymade garments and fabric worth over Rs 10 million to the local market against Customs regulations.

According to Customs sources, this company, which comes under the purview of the Investor Facilitation Centre of the Customs, should pay relevant taxes including GST if they release raw materials or finished products to the local market.

So far investigations have revealed that the company had supplied 75,000 readymade garments and 600,000 yards of fabric, to a leading sales outlet in Colombo, denying large some of government revenues as tax.

This racket was detected by officials attached to the Post Clearance and Audit Branch of the Sri Lanka Customs.

Customs officials are now investigating to ascertain whether this company had released stocks to the local market on previous occasions too.

Further investigations are conducted by Assistant Superintendents of Customs Wasantha Wimalaweera, Jagath Ekanayake, N. Pradeep, S. Thilakasiri and H. Wickremesinghe.

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