9911796707
TMI Blog2011 (5) TMI 615X X X X Extracts X X X X X X X X Extracts X X X X ..... ice tax on brokerage and filing service tax returns. Therefore the extended period of limitation cannot be invoked. As decided in FIRST SECURITIES PVT. LTD. Versus COMMR. OF SERVICE TAX, BANGALORE [2007 (6) TMI 33 - CESTAT, BANGALORE] handling charges collected from investors and amounts collected towards transaction charges cannot be equated to brokerage or commission for purchase of securitie ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rdering of interest at the appropriate rate. The Commissioner held that the liability to pay SEBI turnover charges as well as BSE transaction charges was on the appellants and was a part of the value of service provided by them. The appellant's contention mainly was that the transaction charges were recovered by the exchange since the exchange was rendering taxable service of stock exchange servic ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... amount like transaction charges paid by the appellant to the exchange and claimed by way of only reimbursement from its client was not a recovery for rendering taxable service of a stock-broker. 2. The issue of time bar was also contended by the appellants. It was claimed that the appellants were showing transaction charges separately in the same bills wherein brokerage is also shown separately ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... First Securities reported in 2007 (7) STR 690 (Tri.-Bang.) was that, handling charges collected from investors and amounts collected towards transaction charges cannot be equated to brokerage or commission for purchase of securities whereas the Kolkata Bench in the stay order in the case of Sriram Insight Share Brokers Ltd. Vs. CST, Kolkata reported in 2009 (14) STR 86 (Tri.-Kolkata) has come to ..... X X X X Extracts X X X X X X X X Extracts X X X X
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