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Work Contract


Andrio Kyong   29 May 2020

Andrio Kyong

 19 points

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In work contract while awarding the order by Govt Dept (Govt Dept registered as TDS Deductor)and submitting the invoice by the contractor the tax rate was considered 18%.
Now the Government Dept is releasing the payment on completion of the work as per the invoice with GST18% but now we found out that tax rate should be only 12%. What can or should be done here to retify the error?

avater

Asha Kanta Sharma (Manager - Finance & Accounts)     29 May 2020

Asha Kanta Sharma
Manager - Finance & Accounts 
 105 likes  5137 points

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You can approach the department with the revised invoices and request for the consideration of the same. 

Andrio Kyong   29 May 2020

Andrio Kyong

 19 points

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Can credit note be used in this Case?

Himanshi Garg (Ca Article)     29 May 2020

Himanshi Garg
Ca Article 
 27 likes  349 points

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Yes you can issue Credit Note or Supplementary Invoice. 👍

avater

Pankaj Rawat (GST Practitioner)     30 May 2020

Pankaj Rawat
GST Practitioner 
 3418 likes  46379 points

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As per Above both the way is correct , either correct it by submitting revised invoice (if dept agree) , else need to issue Credit Note as per Section 34.

Himanshi Garg (Ca Article)     30 May 2020

Himanshi Garg
Ca Article 
 27 likes  349 points

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Yes absolutely 👍


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