Service Tax on Sub-Broker Services

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..... Service Tax on Sub-Broker Services - Commentaries / Editorials Dated:- 10-9-2007 - News - In a recent decision reported in 2007 -TMI - 1628 - CESTAT, NEW DELHI, honorable tribunal has held that: .....

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..... In the present case, sale and purchase of security in the Stock Exchange is handled only by the main broker and the sub- brokers are only taking the interested buyers to the main broker. Therefore, le .....

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..... vy will fall only on the main brokers who handled sale and purchase of security in the stock exchange. The sub-brokers are not acting as a broker in connection with the sale and purchase of securit .....

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..... ies in the stock exchange. Their role is like any commission agent in a transaction. The levy under the Heading ("stock broker service") in question is limited to stock brokers and not to commission a .....

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..... gents at large. Therefore, levy is clearly not attracted in the case of sub-brokers. - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - .....

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..... TMI - TaxTMI - TMITax .....

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