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2019 (3) TMI 1147 - AT - Service TaxValuation - inclusion of transaction charges collected by the appellant and paid to the NSE in assessable value - Sub-Rule (1) of Rule 5 of the Service Tax (Determination of Value) Rules, 2006 - Held that:- The demand is raised as per Sub-Rule (1) of Rule 5 of the Service Tax (Determination of Value) Rules, 2006. The said Rule has been set aside as ultra vires by the Hon’ble Apex Court in the judgement of M/s. Intercontinental Consultants and Technocrats Pvt. Ltd. [2018 (3) TMI 357 - SUPREME COURT OF INDIA] - Further, the issue whether transaction charges can be subjected to levy of service tax is covered by the decision in the case of M/s. First Securities Pvt. Ltd. [2007 (6) TMI 33 - CESTAT, BANGALORE] wherein it has been held that the said charges cannot be equated to brokerage received by the appellant and is not subject to levy of service tax - demand cannot sustain - appeal allowed - decided in favor of appellant.
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