Under section 77 of the Finance Act, 1994, any person who issues invoice with incorrect or incomplete details or fails to account for an invoice in his books of account, shall be liable to a penalty which may be extended

CS Executive · Tax Laws and Practice · PYQS · December 2015
Under section 77 of the Finance Act, 1994, any person who issues invoice with incorrect or incomplete details or fails to account for an invoice in his books of account, shall be liable to a penalty which may be extended upto
(A) ₹20,000
(B) ₹10,000
(C) ₹5,000
(D) ₹50,000.

Answer & Explanation:

Correct Answer: Option (B)

Official answer key: (B).

Topics: Finance Act, 1994 (Service Tax)

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