Bi-partisan committee finds GST revenue which was not transferred to a fund for refunds was used for development and management expenses. FMTNews GST AuditReport2018
KUALA LUMPUR: The Public Accounts Committee today confirmed that no goods and services tax refund money has gone missing.
In August last year, Lim said the previous government had failed to pay RM19.4 billion in GST refunds from its implementation in April 2015 until May 31, 2018.Noraini said the refunds must be given within 14 or 28 working days, depending on how the applications for the refunds were filed. She said the delay in transferring the funds from the consolidated fund to the GST refund trust account was to prevent a deficit in the country’s cash flow as operational funds cannot exceed revenue.
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