Businesses with an annual sales turnover of more than RM500,000 are required to register with the Royal Malaysian Customs Department for the implementation of the Goods and Services Tax (GST), before Dec 31 this year.

Customs Department senior assistant director Chin Jek Bik said business owners who failed to comply with the instruction will be penalised up to RM20,000.

"A late registration penalty will be charged at a minimum RM1,500 and up to a maximum RM20,000 after 30 days of the GST implementation in April 2015", she said at a public talk on GST in Petaling Jaya today.