TMI Blog2007 (8) TMI 259X X X X Extracts X X X X X X X X Extracts X X X X ..... re of commission or brokerage for purchase of securities - They are incurred in connection with the delivery of scrips – held that value of taxable services in respect of a stock broker will not include transaction charges and handling charges - 77 OF 2007 - 945 OF 2007 - Dated:- 6-8-2007 - DR. S. L. PEERAN, JUDICIAL MEMBER AND T. K. JAYARAMAN, TECHNICAL MEMBER ORDER [Dr. S.L. Peer ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... st Securities (P.) Ltd v. CST [Final Order No. 759 of 2007, dated 27-6-2007] based on the decisions passed by this Bench. 3. The learned DR reiterates the Departmental views. 4. On a careful consideration of the matter, we notice from the cited judgment the very issue has been examined in Para 6 and it has been clearly held that handling and terminal charges do not form part of brokerage ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... National Stock Exchange of India Ltd. for year 1999-2003 was furnished. Further, he invited our attention to section 7(a) of the Finance Act which deals with valuation of taxable services in relation to service provider by the stock broker. In terms of the above provisions, the value of taxable service in relation to service provided by a stockbroker, shall be the aggregate of the commission or b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ay be fixed, as in stock market transactions, by trade or Government bodies, and may take any of various forms, such as a percentage or modification of selling price; a (finder's) fee; an underwriting or other discount (4); a concession or other advantage (whether or not transaction-related).' The handling charges are the expenses incurred for handling shares on delivery. The appellants have cla ..... X X X X Extracts X X X X X X X X Extracts X X X X
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