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Penalty question
plz experts advice me, that is there is any penalty leviable in following case.
suppose a pvt ltd co. forget in making of bills means after the bill no. 5 directly make bill no. 8 and forgot to make bill no. 6 and 7 i.e. missed out the series.
so is there a question of penalty arise or not, please suggest me.
Replies (2)
Taxation laws (excise, service tax, VAT) require that invoices should be serially numbered. It appears invoices in the given case are being issued manually. You can make proper record to justify the mistake. As far as Company law is concerned, there will be no penalty.
Thank you Agrawal sir.
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