23 April 2022
Hi friends, Is there any penalty if I have mentioned a wrong Service description and/or SAC code on my tax invoice in the FY just competed.
1. is there any problem for the receipient to claim the GST. 2. is there any remedy to rectify it. of course, now it has been detected and I can correct it for future. However, there is no change in the rate of GST. both the services are taxable with 18%. And tax has been collected and duty paid/adjusted from ITC.
An expert view on this will be a great help. Thanks
23 April 2022
1 No problem. 2 Correct it in future. As there is no tax evasion and taxes are paid and return filed. No penalty can be be levied as now corrective action taken. It's only clerical error.
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