Revised GST-03 statement deadline extended

Revised-GST-03-statement-deadline-extendedPUTRAJAYA: The Royal Malaysian Customs Department (JKDM) has given Goods and Services Tax (GST)-registered companies until Jan 31, 2018, to submit their amended GST-03 statement, says its director-general T Subromaniam.

He said the decision was made following encouraging response to the approach adopted by the Department since June, which focused on informed compliance.

After adopting this approach the Department sent “friendly reminder notices” to 62,000 companies that failed to declare or under-declared their GST taxes, advising them to amend the assessments on the GST-03 statement, he added.

“Following this friendly approach, 37,000 GST-registered companies or 61.2% submitted the revised GST-03 statement,” he said in a statement here today.

He said companies which failed to make the corrections or settle the amount due after Jan 31, 2018, would be listed for complete audit by the Customs Department.

He added that the Department would take stern action, including prosecuting those who willfully refused to comply with the requirements and provisions of the Goods and Services Tax Act 2014.

“As such, we are calling on GST-registered companies to make amendments on their declaration and take the opportunity to pay the GST amount payable to avoid problems in the future,” he said.

Subromaniam added that Customs officers nationwide were also deployed to conduct visits to business associations and assist GST-registered companies which had problems with their assessments.

He said by adopting both the approaches, the Customs Department had collected RM1.6 billion in tax revenue as at Nov 30.