Respected Sir,
I have one question about Service Tax 1st time exemption of Rs. 10 Lakhs.
First we are open a Proprietership firm, who's propriter Mr. Kishan applied for registration under Service Tax and get these Rs. 10 lakhs exemption.
After sometime Mr. Kishan Closed the propritership firm and and surrender Service Tax no. to Service Tax Deptt and clear all dues.
After that, Mr. Kishan appointed as a director in newly incorporated Private Company and again applied for service tax registration under the name of Private Company an again company get exemption of Rs. 10 lakhs.
Right Now, my question is that,
If same person get exemption of Service tax (Rs. 10 lakhs) in both cases is leagly valid or not under "The finance Act 1994."
CAclubindia
