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2018 (2) TMI 569 - AT - Service TaxLiability of service tax - various charges viz., NSE/BSE transaction charges, SEBI turnover fees, Stamp duty, Depository/Demat charges and Security Transaction charges, shown separately in the respective invoices - whether the appellants-stock brokers are required to include NSE/BSE transaction charges, SEBI turnover fees, Stamp duty, Depository/Demat charges and Security Transaction charges in the value of “brokerage and commission charges” recovered from their customers/clients? Held that: - similar issue decided in the case of LSE Securities Ltd. Versus CCE [2012 (6) TMI 364 - CESTAT, New Delhi], where it was held that the charges realized by appellants were not being of commission or brokerage are not taxable and shall not form part of gross value of taxable service. The allegation of the department that the demat charges collected by the brokers are banking and financial service, hence taxable, also devoid of merit in as much such charges are collected by the Appellant and paid to the depository participants viz. CDSL/NSDL who are authorised to levy such charges under the Depositories Act, 1996. Appeal allowed - decided in favor of appellant.
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