GST-compliant traders urged to configure accounting software - FOMCA

GST-compliant traders urged to configure accounting software - FOMCA
The traders are advised to immediately configure the accounting software system or Point of Sales system (POS). - File Photo
KUALA LUMPUR: Listed companies that provide Goods and Services Tax-compliant software are urged to configure their accounting software or Point of Sales (POS) system which produces a series of printed invoices immediately.

This move is viewed to hinder any confusions among consumers about the recently-implemented GST.

The Federation of Malaysian Consumers Association (FOMCA) secretary-general, Datuk Paul Selvaraj said in reality traders require only two weeks to install the POS system although the government has set a September 30 deadline for them to do so.

“There is no problem if they (the traders) have already installed the system before the implementation of GST. The Customs Department have held several seminars and workshops on ways to apply the POS system.

“If it takes too much time for traders to do so, will only cause a lot of problems as consumers need to see the receipts. If the POS is not utilised, the charges imposed on customers would only create confusion among them," he said when contacted by Astro AWANI on Wednesday.

Selvaraj was asked to comment on the extension period given to small and medium GST-compliant traders to install the POS system.

An extension period of up to September 30 have been given for the system to be installed.

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In a recent report by MStar, Customs Department GST Division director Datuk T.Subromaniam said
entertainment premises such as pubs and karaoke centers, pharmacies, bookstores, grocery stores, hardware stores and mini markets are not allowed to issue handwritten invoices after that period.

GST which was implemented on April 1 was introduced to replace the Sales and Services Tax (SST) which constitues 10 per cent of Sales Tax and the remaining for Service Tax (6 per cent) in Malaysia.

With the implementation of GST on April 1, the government aims to earn RM23.1 billion. This revenue will contribute to the nation’s development expenditure of RM50.5 billion which will be channelled into infrastructure investment.