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TMI Blog2008 (12) TMI 103X X X X Extracts X X X X X X X X Extracts X X X X ..... peal No. ST/359/2006,) Shri G. Prabhakar Sastry, Adv. for Appellant Shri V.R. Gyaneshwar, JDR for Respondent Per M.V. Ravindran: This appeal is directed against Order-in-Revision No. 10/2006-Service Tax dated 30.11.2006 passed by the Commissioner of Customs, Central Excise and Service Tax, Hyderabad-II Commissionerate. 2. The relevant fact that arise for consideration are the appellant herein are engaged in the business of stock broker services as a member of National Stock Exchange and is registered with the department for payment of Service Tax. The appellant discharges the Service Tax liability provided by a stock broker. It is the contention of the revenue in the show cause notice that the appellant has suppresse ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t the appellant had collected handling charges from their clients for the purpose of physical delivery of the shares and securities, It is also undisputed that the appellant is engaged in the business of stock broker services and he is discharging the Service Tax liability on the aggregate of commission or brokerage charged by him on the sale or purchase of the securities. We find that the contention of the learned counsel that the issue is squarely covered by the decision of the Tribunal the case of First Securities Pvt. Ltd. (supra) is correct. We read the ratio: 6. In the impugned order, the Commissioner (Appeals) has held that the lower authority is right in including the 'handling charges' and 'transactions charges' ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... #39;brokerage' is defined as follows: brokerage A Commission, paid or accruing to a broker, arising from effecting a deal between seller and buyer, and borne by either party in accordance with custom, regulation or special agreement. It may be fixed, as in stock market transactions, by trade or government bodies, and may take any of various forms, such as 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 clarified that prior to 2001, there used to be physical delivery of scrips and certificates and the ap ..... X X X X Extracts X X X X X X X X Extracts X X X X
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