Chua: No penalties yet, but file GST returns | Biz Info


Chua: No penalties yet, but file GST returns

No penalties have been imposed on companies which failed to file their GST returns, Deputy Finance Minister Datuk Chua Tee Yong said.

He said despite the Aug 24 submission deadline, the authorities had decided not to take punitive action yet.

“Businesses which have yet to submit the GST returns should do so without delay.

“The Customs Department has been very accommodating but please don’t take advantage of this.

“The time will come when penalties will be imposed and Customs officers will look for these defaulters,” he said after a dialogue with Chinese guilds and non-governmental organisations in Wisma MCA here yesterday.

Also present were MCA vice-president Datuk Lee Chee Leong and MCA Economic Consultative Committee member Datuk Seri Dr Lim Chin Fui.

Chua said the penalties, once imposed, would be auto-generated but businesses could still submit an appeal.

He said all GST-registered companies should make an effort to comply and that it was not fair to those who had filed the returns on time.

“The Customs Department has made it clear that it is not its intention to take immediate punitive action.

“They will not penalise companies over a mistake in the returns,” he said, adding that businesses should not take for granted that it was not a necessity to file the returns.

Records showed the first quarterly GST filing from April to June stood at 87%.

On GST refunds, Chua said several measures had been implemented to improve the process.

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