PUTRAJAYA: The Royal Customs Department has asked companies and individual business owners to make the obligatory registration for the goods and services tax (GST) before Dec 31, 2014 to avoid action being taken against them.
Customs Department Director-General, Datuk Seri Khazali Ahmad, said since registration opened on June 19, of the estimated 300,000 potential registrants for the GST, only 6,031 had done so as of last night.
The registration is compulsory for companies and individual business owners with an annual income of more than RM500,000.
"We will send three reminders to them to register for GST and also advertise in newspapers.
"Companies and individuals registering for GST after Dec 31, 2014 have
committed an offence under Section 96, GST Act 2014," he said at a media
briefing here today.
If found guilty, the companies or individuals could be fined over RM30,000 or jailed not over two years or both, he said.
Khazali said the Customs Department would hold free 'Hand Holding' programmes to offer detailed information to firms and individuals reg istering for the GST.
"The programme will start in October and we hope they register to get clear explanation on the GST," he said.
Also, those who registered would also receive a RM1,000 GST e-voucher from SME Corp which they could use it to buy or upgrade their accounting software, he said.
The GST will replace the sales and services tax from April 1, 2015. --
BERNAMA