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2018 (5) TMI 1222 - AT - Service TaxValuation - Includibility of turn over charges / transaction fee in the gross value for the purpose of payment of Service Tax - Held that: - the appellants had recovered the actual turn over charges / transaction fee from their customers and paid the same to the respective Stock Exchanges as per the SEBI Regulations and that the appellants did not retain any amount on account of such charges with them - the issue is no more res-integra in view of the decision of this Tribunal in the case of LSE Securities Ltd. vs. Commissioner of C. EX., Ludhiana [2012 (6) TMI 364 - CESTAT, New Delhi], wherein it has been held that turn over charges etc. cannot be included in assessable value for the purpose of taxation inasmuch as, the same are recovered from investors to make payment as per the SEBI guide lines. While interpreting the phrase “for such service” used in Section 67 of the Act, the Hon’ble Supreme Court, in the case of Union of India and Anr. vs. Intercontinental Consultants & Technocrats Pvt. Ltd. [2018 (3) TMI 357 - SUPREME COURT OF INDIA], have held that the said phrase to be strictly construed, to include only the amount of consideration paid for providing the taxable service and all expenses to be excluded for consideration of the gross value. Appeal allowed - decided in favor of appellant.
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