wrote in message
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Is it permissable to have an outlet that is rated for less curent than
the circuit breaker is?

No. Its also potentially dangerous if you have a problem.

I wired the detached garage for 40A 220v service (it seemed like a lot
of capacity 25 years ago!). In the garage is a subpanel with (4) 110V
and (1) 30A 220v circuits. Originally the 30A breaker fed one single
outlet (for the arc welder and compressor that I would someday own) -

I have a 50 for my welder and 30s for my table saw and future compressor.
Each is a different type of plug and outlet. 40amps isn't much. Its time
to start thinking about upgrading your service to that area.

eventually I got tired of unplugging the welder to plug in the
compressor or phase converter and now have (3) 220v outlets side by
side in one box. Over the years I made up an extension cord to be able
to weld on the opposite side of the garage and to power the bandsaw.

I hope its some really heavy duty cord. Heavier than the heaviest 110 cord
you might find in a good hardware store.

I am considering adding an outlet at the bandsaw. The bandsaw has a
15A 220v plug on it. So back to my original question is there an
issue with having a 15A outlet on a 30A circuit (the circuit is wired
in #8 romex)?

Yes, there is an issue. You could theoretically have a problem and draw
enough power to start a fire without tripping the breaker.