10 February 2017
A pvt ltd company was paying service tax as provider as well as receiver of service. Now the constitution of the pvt ltd co has been changed to LLP in Jan 2017. On the date of conversion concerned pvt ltd co was dissolved and its assets & liabilities were transferred to LLP. In which no service tax liability or unutilised cenvat credit amount was there. The Director's of the concerned pvt ltd co have become partners in newly formed LLP who will carry on the business of said pvt ltd co. Because of this change newly formed LLP will have to take new pan no as well as new service tax registration no as the same is pan based. Now the question is can the newly formed LLP claim exemption from payments of service tax on taxable service up to Rs 10 lacs in f/y 2016-17 under notification no : 33/2012-ST dated 20/06/2012 being a small service provider or not.
CAclubindia
