Surrender of service tax no. - Payments to be adjusted after surrender

[Guest]

A partnership is dissolved on 1.4.2007 and converted into proprietorship.Issues are as follows 1. Process to surrender the Service Tax No. of the firm 2. Proprietorship does not expext its turnover to exceed 6-7 lakhs . is it necessary for it to have S.T No 3. Payaments against some bills of 2006-07 of the wrestwhile partnership still pendins. How it can be deposited after the surrender of S.Tax No.

Regards

Manoj Gupta

[Guest]

You have to surrender your registration certificate with a simple letter. However, sometimes the department may seek an affidavit with copy of the previous returns. For the new concern, since the turnover is not likely to exceed rs. 7 lakhs, there is no need to obtain fresh service tax registration number.

AI Summary

Dissolved Partnership Becomes Proprietorship: Service Tax Number Surrender and New Requirements Explained Under Turnover Threshold. A partnership dissolved and converted into a proprietorship on April 1, 2007, raises questions about surrendering the Service Tax Number. The proprietorship, with an expected turnover of 6-7 lakhs, queries the necessity of obtaining a new Service Tax Number. Additionally, there are pending payments from the 2006-07 period that need addressing post-surrender. The response advises surrendering the registration with a letter, possibly accompanied by an affidavit and previous returns. It confirms that the new entity, with a turnover under 7 lakhs, does not need a new service tax registration.