2023 (1) TMI 454 - AT - Service Tax

Valuation of a stock broking firm - inclusion of NSDL & CSDL charges in assessable value for the purpose of service tax by the appellant - HELD THAT:- It is noticed that the issue of includability of NSDL/CSDL has been considered by the tribunal in the case of M/S KUNVARJI FINSTOCK PVT LTD VERSUS C.S.T. -SERVICE TAX – AHMEDABAD [2018 (12) TMI 344 - CESTAT AHMEDABAD] and in the case of M/S. INNOVATE SECURITIES PVT. LIMITED VERSUS COMMISSIONER OF CENTRAL EXCISE & ST, AHMEDABAD [2018 (11) TMI 1473 - CESTAT AHMEDABAD] - It has been the consistent stand of the tribunal that these charges being statutory charges as per SEBI Rules should not be included for the purpose of service tax.

The impugned order is set aside - Appeal is allowed.