Penalty for wrong issuance of invoice is overall or per invoice

[Abhijeet Mane]

Whether the penalty for wrong issuance of invoice is 10,000 per invoice or is it overall 10,000 irrespective of number of invoice.

AI Summary

No Penalty for Wrong HSN Code on Invoices if Correct Tax Rate Applied: Clarification Under Section 126(1) CGST Act 2017. A discussion on the penalty for wrong issuance of invoices under GST law reveals differing opinions. One participant clarifies that penalties are imposed per offense. Another asks for details on the mistake, which is identified as a wrong HSN code without affecting the tax rate. It is noted that such minor procedural errors, especially when no revenue loss occurs, are often overlooked by authorities. The consensus is that no penalty applies under Section 126(1) of the CGST Act, 2017, as the error is clerical rather than misclassification, assuming the correct tax rate is applied and paid.