Service tax b. exemption for entities oprtng in one premises

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Querist : Anonymous

Querist : Anonymous (Querist)

10 September 2012 My query is- Suppose i have three partnerships where in partners involved are the same, having same/different profit sharing ratios. All three are conducting three separate taxable services. Will the basic exemption of rs.10 Lacs will be available to each of the partnership/other entities separately?

CA Suresh Jain

CA Suresh Jain (Expert)
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11 September 2012 It is an interesting question. A quick answer to this is as under :-

1. all the above firms are distinct legal entity, they are a person as defined under service tax and are entitled for separate registration
2. in view of the above a very quick answer is that each one of them is entitled for SSP exemption

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