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?
CAclubindia
