2011 (4) TMI 822

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..... o pre-deposit the following amounts:-     a. Service tax - Rs.20,10,132/-     b. Interest.     c. Penalty - Rs.20,10,132/- u/s 78. The lion's share of the service tax demand is an amount of Rs.18,42,098/- being service tax on courier charges received by the appellant from its customers. Another amount of Rs.59,000/- is demanded towards Commercial Tr .....

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..... chargeable on the said amount, the audit department had dropped the objection raised. He submits that in view of the correct legal stand taken by the Commissioner in respect of M/s. Karvy Stock Broking Ltd., the demand on same charges confirmed for the same activity by the appellant is not sustainable. We have also heard the ld. DR., who submits that the communication intimating dropping of the au .....

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..... ,07,867/-, we are satisfied that the activity involved related to service in respect of commodities excluded from the definition of "Banking & Other financial services" in sub-clause (v) of Section 65(12). We find from the CBEC Circular F.No.B.11/1/2001-TRU dt. 9/7/2011 that custodial depository services meant safe keeping of securities of a client and providing services incidental thereto. The de .....

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