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2015 (12) TMI 267 - CESTAT BANGALOREDenial of benefit of exemption Notification No. 3/2014-S.T., dated 3-2-2014 - Held that:- M/s. Geojit Financial Services Ltd. as a broker registered with National Stock Exchange and Bombay Stock Exchange offers a trading platform for the investing customers either directly or indirectly through business associates while M/s. Geojit Commodity Services Ltd. offers the same option in relation to future trading on a recognized commodity exchange with which it is registered as a member. The demands in this case on the appellant have arisen on the ground that the appellants have acted as sub-brokers for commodity trading. Notification No. 3/2014-S.T. exempts service tax payable on the services provided by an authorized person or sub-broker to the member of a recognized association or a registered association in relation to a forward contract during the period from 10-9-2004 to 30-6-2012. - Decided in favour of assessee.
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