Urgent

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

03 May 2016 Dear Sir,
There is a partnership firm having two partners. One partner has been retired from the firm on 15/04/2016. And the remaining partner will carry on the business under his proprietorship.
Now this regarding I have following queries -
1. Whether remaining partner has to obtain new service tax registration under his PAN, or he can amend the firm's existing registration?
2. Whether firm has to surrender his registration ?
If yes then what is the procedure to surrender registration and what are the document that has to enclosed during surrender ?

Please advise me.

Thanks in advance.

Abhishek Ranjan Singh

Abhishek Ranjan Singh (Expert)
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03 May 2016 1) You have to surrender the Firm's Service Tax registration. As now Partnership firm is closed. If rest three partner want they can continue the firm and this registration. But as you told Now they are now planning to operate it as Proprietorship firm so surrender old registration and take new registration on proprietor PAN.

2) Assessees who wish to surrender their registration certificates shall file their application on-line using the ACES module on www.aces.gov.in. On successful filing of the online application, the assessee shall submit the copies of documents mentioned at pare 5 along with signed copy of the printout of the application generated by the ACES System to the jurisdictional Group Superintendent or Superintendent(s) of the Registration Cell’ in the concerned Divisional office.

required to submit following documents:

(i) Application Form & Undertaking to surrender the Service Tax Registration (Annexure-I)

(ii) Copies of last six ST-3 returns filed with the department from the date of taking registration till the date of surrender but up to a maximum of last six returns

Where the assessee has not filed ST-3 returns for the period mentioned above, on account of the reasons that the turnover is within the threshold limit of small service providers exemption then it is not necessary for him to file fresh return for surrender purpose only. He can apply for waiver of penalty under Rule 7C of STR for non-filing of returns. Instructions have been issued for waiver of penalty for non filing of return where total turnover was less than threshold limit. The fact of non-filing of return should be clearly mentioned in the undertaking.

(iii) Copies of Profit & Loss account and Balance Sheet from the date of taking registration to the date of surrender, but for a maximum of last 3 financial years only. However, if Balance Sheet or Profit & Loss Statement has not been prepared, the applicant may submit copies of Income Tax Return for the said period. If said return has also not been filed then applicant should provide appropriate evidence like Bank Statement so as to enable the department to verify the reason stated for surrender. [Not required for category (e) & (g)]

(iv) Details of Show Cause Notice pending adjudication, details of confirmed demands, details of c urt cases, details of audit conducted, etc. as per Annexure-II.

Abhishek Ranjan Singh
ARS Solutions
www.arssolutions.co.in
+919022838615

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Querist : Anonymous

Querist : Anonymous (Querist)

04 May 2016 Said firm has issued one invoice on 10 April 2016. Returns upto 31/03/2016 are filed, what we should do regarding this single bill.
Whether we should file st-3 for the fisrt half yearly of 2016-17, whether this can be file now or it can be done only in first week of Oct. 2016.

Whether we should deposit only the tax for this invoice and surrender st-2.