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2013-10-23

Added 2026-08-11 · Updated 2026-08-14

FEPD Circular Letter No. 31: Regarding Non-Issuance of LC without Obtaining VAT Registration Number (BIN) as Importer and Mentioning HS Code of Imported Items in Import Bill of Lading

Authorized dealers are instructed to refuse issuing Letters of Credit to importers who lack a VAT Registration Number (BIN) specifically designated for import activities, even if they hold a BIN for production or supply. Banks must also ensure that the correct HS Code for imported items is explicitly stated in the Bill of Lading to facilitate proper container management and customs clearance. Failure to comply with these National Board of Revenue directives places liability on the respective banks. This circular reinforces previous instructions regarding the mandatory inclusion of the importer's BIN and the bank's name and BIN in credit documents.

Bangladesh

Bangladesh Bank

Foreign Exchange Policy Department Bangladesh Bank Head Office Dhaka-1000. Ref. No. FEPD(Circular) 08 Kartik, 1420 Circular Letter No.-FEPD(Import Policy)123/2013-31 Date ---------------- 23 October, 2013

To All Approved Dealers of Foreign Exchange Transactions Head Office / Principal Office.

Dear Sir,

Regarding non-Issuance of LC without obtaining VAT Registration Number (BIN) as Importer and mentioning HS Code of imported items in import bill of Lading.

Reference is invited to the letter No. NBR/WD/ADOC/UGOCH-C(1)/2012/216 dated 20/10/2013 issued by the National Board of Revenue (copy enclosed) on the subject matter.

It is mentioned in the said letter that some establishments are importing goods by opening LCs from commercial banks without obtaining VAT Registration as Importer (Importer), [even though they have VAT Registration as Producer/Supplier]. This is causing complications in customs processing after goods arrive at the port of Bangladesh, resulting in delays in cargo clearance. To resolve the said complications, the National Board of Revenue has directed that no LC shall be issued unless the VAT Registration Certificate of the LC applicant explicitly mentions the nature of the business, and if the Importer (Importer) is not mentioned, it shall be included in the VAT Registration Certificate. Furthermore, for proper container management, it is essential to include in the LC a condition that the correct HS Code of the goods must be mentioned in the Bill of Lading alongside the description of the goods. The said letter also states that if any deviation is observed, the concerned bank will be held liable. It is noted that VAT Registration is provided by the National Board of Revenue against the valid Importer Exporter Code (IEC) issued by the Office of the Chief Controller of Imports and Exports.

In this context, it is mentioned that under the new 'Import Policy Order' of Bangladesh Customs, to facilitate the smooth conduct of customs-related work, previous Circular Letters No. FEPD(Import Policy)/123/2013-06 and FEPD(Import Policy)/123/2013-28 issued on 13/03/2013 and 19/09/2013 respectively, have informed you of the previous instructions issued by the National Board of Revenue to ensure that the VAT Registration Number (BIN) of the importer and the name of the bank as the importer are mentioned in the Credit, Bill of Lading, and other shipping documents at the time of establishing the Credit. (i.e., Bank Name and Bank BIN).

You are advised to ensure proper compliance with the aforementioned instructions of the National Board of Revenue.

Yours faithfully,

Enclosed: As per list

(Md. Zahurul Haque) Deputy General Manager Phone: 9512604