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TMI Blog2013 (9) TMI 862X X X X Extracts X X X X X X X X Extracts X X X X ..... having been not altered in view of incorporation of Explanation 1 in Rule 6 of the 2006 Rules, is more appropriately to be considered at the final hearing of the appeal. - Held that:- The valuation provision incorporated in section 67 of the Act envisaged that aggregate of commission or brokerage only shall be measure of tax. Basis of taxation was provided in express terms and no implied taxation ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dicating authority confirmed service tax liability approx. Rs.16.4 lakhs on the assessee for having provided stock broker service and banking and financial service. The petitioner preferred an appeal. The appellate authority granted relief in respect of certain components of the assessed liability i.e. in respect of late payment/trade violation charges and penalty income. It is prima facie asses ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ale or purchase of securities including the commission or brokerage paid by the stock broker to any sub-broker, is included in the value of taxable services. The said Explanation fell for consideration before this Tribunal in LSE Securities Ltd. vs. C.C.E., Ludhiana 2013 (29) STR 591 (Tri-Del.). This Tribunal concluded that turnover charges, stamp duty, BSE charges, SEBI fees and demat charges and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... at the final hearing of the appeal. 5. For the nonce, we proceed on the premise that the judgment of this Tribunal in LSE Securities Ltd. governs interpretation of the taxable component of stock broking service both prior and subsequent to 18.4.06. On this analysis, we grant waiver of pre-deposit and stay all further proceedings pursuant to the impugned order of the Commissioner (Appeals), on c ..... X X X X Extracts X X X X X X X X Extracts X X X X
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