PUTRAJAYA: The Customs Department will impose auto-assessment to 22,184 Goods and Services Tax (GST) registrants who failed to submit their GST-03 statements. Customs Director-General Datuk Khazali Ahmad said they have until October 11 to submit their statements before the auto-assessment is enforced. “The Customs will issue tax claim notices on October 12 with assessed amounts.
The assessed tax will be based on the annual taxable turnover declared during registration. “It will also be calculated on a monthly and quarterly basis based on the GST-registrants’ category. “All GST-registered companies have to submit their GST-03 statements and settle the amount within these two weeks from the date of the notice.
“Legal action will be taken against registrants who failed to do so in accordance with the provisions under the GST Act 2014.” he said at a press conference, here, today. He said this was in line with Section 43 of the act. He said it was compulsory for all GST-registered companies to submit GST-03 statements on a monthly basis to those who has a taxable turnover of RM5 million and above. Those who registered under taxable turnover of RM5 million and below are required to submit GST-03 statement on a quarterly basis.
