Register for GST soon or face legal action

It has been stated by the Royal Malaysian Customs Department Director General Datuk Seri Khazali Ahmad that no legal proceedings will be taken against companies that register for GST by 28 February 2015. However, action will be taken for companies fails to do so and a crackdown will be launched from 1 March 2015 onwards.

Citing with accordance with the provisions in the GST Act 2014, he said if an eligible business entity fails to register for GST by 28 February 2015, the customs will forcibly register them for GST and legal action will be taken against them. Hence, he urged companies to register for GST if they haven do so.

Meanwhile, pursuant to s 184 of the GST Act 2014, businesses generating taxable income exceeding RM500,000 annually are compulsory to register for GST under the Act. Failure to do, companies may be liable to a fine not exceeding RM30,000 or imprisonment up to two years or both.

Source: The Star, 4 February 2015

1 Comment

  •       Commented

    What if the company ceases its business operation in January, 2015? Do they need to register prior to ceasing business?


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