It had been months since the previous GST system had been abolished and repealed.
As stated in the Goods and Services Tax (Repeal) Act 2018, the final GST return was required to be filed by all GST registered persons no later than one hundred and twenty (120) days from the appointed date of 1 September 2018.
The final date for the submission of this final GST return fell on 28 December 2018.
The one hundred and twenty (120) days period allocated by the authorities was intended to allow sufficient time for businesses to compile data for the GST return and ensure that all input tax which the GST registered businesses are eligible for, are included and claimed in this final GST return. However, I am sure that most business owners had felt that this period had passed too soon as a number of ambiguities and uncertainties have not been properly clarified when the deadline came around. Continue reading >>>