Finance Minister Lim Guan Eng said the Finance Ministry respects the two main recommendations of the PAC that the violation of the laws and non-compliance of regulations on the repayment of GST should not recur. — Picture by Yusof Mat Isa
Finance Minister Lim Guan Eng in a statement today on the PAC report, said the report confirmed that there were several non-compliances in the repayment of GST by the previous government. The GST collection was instead channeled directly into a consolidated revenue account which according to the Attorney-General infringed the basic principle of trust and trust accounting requirement and it is not in line with the provisions of Section 54 and Section 54 of the GST Act 2014, he said.
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