Customs to focus on expediting ITC refunds

MELAKA: The Royal Malaysian Customs Department (RMCD) is focused on expediting the refund of the input credit tax (ITC) to traders or Goods and Services Tax (GST) registrants in its efforts to improve implementation of the tax regime.
Director-General Datuk Seri Khazali Ahmad said this requires cooperation between the department and GST registrants.
"Among the reasons for late refunds are our failure in contacting the traders either through email, telephone calls and letters," he told reporters after officiating the closing of a basic course for Assistant Customs Enforcement Officers and presentation of certificates.
Khazali said the RMCD will be going down to the ground to track traders who it has failed to contact for the refund.
He also said this is to ensure the existence of registrants and they are conducting businesses as specified in their registration.
"At the same time, we will be focusing on ensuring the compliance level among traders, for the submission of the GST-03 return statements to reach 100 per cent.
"As of now, the level is at over 95 per cent and this is a good sign when compared to the Sales and Services Tax," he said.
He said traders who failed to file the GST-03 return statements would be identified and a meeting held to determine the cause of the failure to do so in working towards a solution. — Bernama