GST update: Less than a fifth file returns as deadline looms

Less than a fifth of the businesses registered for the goods and services tax (GST) as regular taxpayers have so far filed their first annual returns (for FY18) under the new system, even as the deadline for the same is this month-end. This has raised concerns over the compliance readiness of the industry, and is threatening to undermine the ability of the tax administration to plug revenue leakag…