I have a git repository which uses a submodule which I\'d like to point at an annotated tag, but when I do git submodule update new tags don\'t get fetched. I can g
git submodule update
Late answer here, but I'm surprised that no one mentioned git submodule foreach. This is basically the way I solved the exact problem you encountered:
git submodule foreach
git submodule foreach --recursive 'git fetch --tags' git submodule update --recursive
--recursive flag is there to recurse into child submodules.
--recursive