2014 (1) TMI 767

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..... sitory Participant need not be a stock broker and similarly a stock broker need not be a Depository Participant. Under these circumstances, the charges collected by the appellant towards ‘account maintenance charges’ as a Depository Participant may not be includible in the taxable value of stock broking services. Therefore, we waive pre-deposit of dues as per the impugned order and stay recovery t .....

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..... llecting what are known as account maintenance charges which related to their activities as Depository Participant. The authorities below have treated the amounts so received by the applicant towards account maintenance charges as part of taxable services of stock broker and demanded service tax amounting to Rs. 3,31,693/- relating to the period April 2009 to March 2010 along with interest and .....

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..... further submits as per the Board s instruction all charges (by whatever name called) recovered by the broker from the buyer/seller of securities are includible in the taxable value in terms of Rule 5(1) of the Service Tax (Determination of Value) Rules, 2006. 5. We have carefully considered the submissions from both sides and perused the records. Prima facie, we find that the activity of a st .....

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