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2018 (11) TMI 1473 - AT - Service TaxLiability of service tax - charges of National Stock Exchange (NSE)/ Bombay Stock Exchange (BSE) such as transaction charges, SEBI turn over fees etc. paid to the NSE/BSE and collecting reimbursement of the same from their clients - appellant is a stock broker. Held that:- On this issue much water has flown as in various judgments, this Tribunal has consistently held that all these charges being statutory charges as per SEBI Rules, should not be liable for service tax - The Tribunal in the case of INDSES SECURITIES AND FINANCE LTD, SPAN CAPLEASE PVT LTD AND OTHERS VERSUS C.S.T. -SERVICE TAX - AHMEDABAD [2018 (2) TMI 569 - CESTAT AHMEDABAD], where it was held that 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. Demand set aside - appeal allowed - decided in favor of appellant.
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