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2018 (7) TMI 1133 - AT - Service TaxValuation - forward contract service - inclusion of brokerage charges, transaction charges and turnover charges etc. in assessable value - Held that:- As far as the consideration of brokerage charges, it is admitted that the liability has been discharged. Since Brokerage/commission is a consideration which was paid by the client for the provisions of Forward Contract Services and that the same stands paid, the demand is not sustainable - demand set aside. Turnover charges - Held that:- The Commissioner has failed to appreciate the annexures attached to the appeal memo where the books of accounts are showing the Service Tax to have been paid on the transaction charges by NCDEX. In the given circumstances, confirmation of demand of the Service Tax, which has already been discharged by the exchange on whose behalf the appellant had collected those charges and remitted to the exchange, to our opinion, is a patent error on the part of the Commissioner (Appeals) - demand set aside. Penalties u/s 78 - Held that:- There was a reasonable cause on part of the appellant to not to pay Service Tax, which otherwise had been paid by the exchange on whose behalf appellant was collecting it and in fact was remitting it to exchange only for onwards discharge of liability - penalty set aside by invoking section 80 - penalty set aside. Appeal allowed - decided in favor of appellant.
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