Please help how we can execute logstash as a service on Linux (i have not installed logstash as packages and just extracted from tar file).
This is mostly dependent on your Linux distribution and whether it uses SyvV init, Upstart, systemd, or something else. Setting up Logstash to run as a daemon isn't that much different from any other piece of software. If this isn't something you're familiar with I strongly suggest you install Logstash via a package manager.
Also please help how we can stop logstash service. If multiple config files are running as a service then can we stop individual config file?
No, you'll have to stop the whole Logstash instance.
I tried to run rpm on centos7 box from elastic website, I do see there is NO systemd file being created.
But instead it has created systemv file in /etc/init.d/logstash
I did read some other posts here, and see that apparently there is no system-install as well in /bin directory of logstash to generate systemd file.
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