SUBANG JAYA: Business owners who have yet to submit their GST return statements to the Customs Department can heave a sigh of relief as they have been given a two-week extension to do so.
Deputy Finance Minister Datuk Chua Tee Yong said the July 31, deadline has been pushed to Aug 14.
“Many of the companies were small and medium-sized enterprises.”
These companies, usually having a turnover of less than RM5mil per annum, are required to hand in the return statements every quarter, Chua said.
“This is their first time submitting it.”
After holding discussions with the Customs Department, Chua said the deadline had been extended to allow business owners more time to submit the necessary documents.
According to him, only around 30% to 40% of business owners managed to comply with the July 31 deadline.
The extension will also give companies that made errors in their statements more time to correct them.
“But companies with a turnover of RM5mil and above will not get to enjoy the extension, as these companies have been submitting monthly statements since May,” Chua said.