GST awareness for suppliers

The two-day joint awareness on Section 65A of the Goods and Services Tax Act is now concluding in Lae for the Momase region.

The session is conducted by the Internal Revenue Commission, in collaboration with the Department of Finance.

The first day was on Tuesday, August 1st, where it was attended by ‘authorised withholders’ – which are the provincial governments, district development authorities and provincial health authorities.

The second and final day was for suppliers and service providers to these authorised withholders.

“It was positive to have the number that turned up,” said Acting Assistant Commissioner for IRC’s Tax Audit, Ranzoline Kalokalo.

“As much as possible, we want the suppliers to go away with the message in terms of how they should be conforming to the Section 65A with the withholders.

“We’ve gone through the basic GST processes, what they should be doing in terms of the lodgement of the G1 form. I think that’s very important for them to adhere to or the message they should be taking away.

“They are required to lodge in their G1 regardless. That should solve some of the issues on the reconciliation of the 65A.”

Notice holders file two monthly GST returns, and the appropriate GST forms depend on the industry type. Government departments or agencies and state-owned enterprises use the G6 form while the suppliers use G1 forms.

Some of the suppliers called for a streamlined process as it takes very long for them to get their GST refunds.

Kalokalo gave the assurance that his team has taken note of their concerns and suggestions, saying overall, the IRC team is satisfied with the turnout.

Loop author