Date to submit revised GST-03 statement extended to Jan 31, 2018

PUTRAJAYA: 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, said its director-general Datuk Seri T. Subromaniam.

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

After adopting this approach JKDM sent 'friendly reminder notices' to 62,000 companies which had failed to declare or had under-declared the 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 JKDM.

JKDM would take stern action including prosecuting those who wilfully refused to comply with the requirements and provisions of the Goods and Services Tax Act 2014, he added.

"As such JKDM is calling on GST registered companies to perform 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 JKDM 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, JKDM managed to collect RM1.6 billion in tax revenue as at Nov 30. — Bernama