It depends on where in the story the author chooses to ignore truth. In the case of fiction, truth is not a very important factor because people expect the author to be telling a made up story, not matter how real it may seem. But in telling a story with believable factors, one must be careful. Truth should be placed where it is most important, that is involving another person and their life. If not, a lie could become hurtful and deceitful, regardless of if the writer/story-teller intended it to do so. The placement of truth is crucial and important and should not be ignored due to respect to others and to the circumstances of the story. 

That being said, many stories and writings have stretched the truth in various places as to make the tale more interesting to readers.