PUTRAJAYA: As the first month of Goods and Services Tax (GST) implementation comes to a close, business owners are reminded to file their statements to avoid being punished.
Customs Department GST director Datuk Subromaniam Tholasy said his department was expecting 74,909 statements to be filed in May by businesses that were eligible.
“It is very important for business owners to file their statements and pay the GST. They should not forget it as the punishment will be severe.
“The punishment is a fine of not more than RM50,000 or three years’ imprisonment or both.
“Even a compound for not filing statements can come up to RM25,000,” Subromaniam said at a press conference here yesterday.
He said there were three methods of paying the GST – via online, bank counters and bank draft or cheque.
Meanwhile, Domestic Trade, Cooperatives and Consumerism Ministry secretary-general Datuk Seri Alias Ahmad said two companies had been issued with compounds for profiteering since April 1.
Alias said the two companies, one in Penang and one in Kuala Lumpur, failed to respond to the show-cause notices issued by the ministry during enforcement checks at their premises.
He added that 30 investigation papers had been initiated and five out of the 30 were being fine-tuned before they were brought to the Attorney-General’s Chambers for further action.
“Since April 1, we have conducted 169,440 checks at businesses nationwide, which on average is 6,500 checks a day. This is for those who say our ministry has not been strict on enforcement,” said Alias.
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