SANDAKAN: A total of 325,279 companies nationwide registered under the Goods and Sales Tax (GST) that ends tomorrow.
Deputy Finance Minister Datuk Ahmad Maslan said even though about 40,000 companies have yet to register for GST, his ministry is satisfied with the number of registered ones that had exceeded target.
"The target is about 240,000 companies but up to today, 325,279 have registered under GST.
"We want the remaining companies to register before the closing date ends tomorrow to prevent them for being compounded RM15,000." he told reporters after the state level briefing on GST, Budget 2015 and currrent issues here today.
He said the government has given ample time for eligible companies since June 1 last year to register under GST, which should have ended Dec 31 but the government extended it for another two months until tomorrow.
He said the government would not extend the date of GST registration anymore for companies following the GST implementation on April 1 and would take firm action to ensure traders did not raise prices of goods.
Grants would also given to consumers' associations to report and monitor prices while village chiefs and community leaders have been asked to monitor prices, he said.
There is no excuses for any quarters, especially traders to raise prices of goods because of GST implementation, he said.
-- BERNAMA