2009 (5) TMI 99 - AT - Service Tax

Appellant is engaged in the business of stock broking and holds service tax registration under the category of the said service as also under banking and other financial services. The dispute in the present appeal relates to the taxable value. Appellate authority has agreed that Board s Circular F. No. B-1l/1/2001-TRU, dated 9-7-2001 is to the effect that service tax will not be leviable on NSDL or CDSL fees paid to the depositories and recovered from the customer on actual basis, but has denied the benefit of the said Circular on the ground that the charges paid to NSDL are fixed charges which means that they are not on actual basis. As such he has not applied the Circular.- Fixed amounts can also be on the basis of actual stay granted

Summary

The Appellate Tribunal CESTAT, Ahmedabad allowed the stay petition unconditionally in a case related to service tax on NSDL or CDSL fees, citing a Board's Circular that fixed charges can be considered as on actual basis. The appeal was fixed for final disposal on 26-6-09.