9911796707
TMI Blog2008 (12) TMI 103X X X X Extracts X X X X X X X X Extracts X X X X ..... er 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 suppressed the value of taxable service in relation to services provided by stock broker for the period 1997-1998 to 2000-2001, as regards the handling charges collected by them from their customers. The appellant contested the show cause notice before the Adjudicating Author ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... gregate 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' as part of the taxable value as additional brokerage for Service Tax purpose. The learned advocate who appeared for the appellants took us through the impugned order and stated that the Commissioner (Appeals) was not justified in stating that the appellants has not produced any bill/ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ons, 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 appellants were charging towards 'handling' of scrips and certificates. The 'handling charges' were collected from certain investors/clients. In respect of speculative transactions, no handling charges were collected from the investors/clients as there was no handling of scr ..... X X X X Extracts X X X X X X X X Extracts X X X X
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