Service tax exemption limit on firm converted to a company
This query is : Resolved
12 November 2013
we a firm lending service under commercial training and coaching and paying Service tax. we created a new company and same partners became directors in pvt. company and services under commercial training and coaching. the question is
1). whether the new pvt. company have to pay Service tax without basic exemption limit or can avail exemption limit?
2). Whether two Service Tax RC (firm and company) can be issued for same premises?
reply is urgent
1). whether the new pvt. company have to pay Service tax without basic exemption limit or can avail exemption limit?
2). Whether two Service Tax RC (firm and company) can be issued for same premises?
reply is urgent
13 November 2013
1. Yes you need to take separate service tax registration. Same premise doesnt matter.
2. yes new company shall be covered separately under the small service provider scheme.
2. yes new company shall be covered separately under the small service provider scheme.
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13 November 2013
sir may i know the sections or rules number
13 November 2013
there are no separate sections. Its simple, a company has its own legal entity separate from its shareholders. You have to take service tax registration separately. For service tax purposes both the entities shall remain independent of each other for compliance purposes. Only for transfer pricing the relationships are considered.
13 November 2013
sir i have informed from ST department that the partners of the firm (2partners) are the directors (2 directors) of the company so the exemption limit cant avail.
13 November 2013
well I dont think there is any such regulations. I myself have multiple companies/LLP on same premise with common directors claiming the exemption.
However, lets see what other experts have to say on this.
However, lets see what other experts have to say on this.
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