Transaction charges excluded from brokerage for service tax, consistent with settled Tribunal precedent.

Transaction charges collected by stock brokers and payable to the National Stock Exchange were treated as not form ing part of brokerage for service tax purposes, following earlier Tribunal decisions on the same issue. The text notes that no contrary authority or ground was shown to depart from that settled position, so the inclusion of such charges in the taxable value of brokerage was rejected and the assessee's position was sustained.

---

---

Issues: Whether transaction charges collected by stock brokers and payable to the National Stock Exchange are includible in brokerage charges for the purpose of levy of service tax.

Analysis: The issue was already settled by earlier Tribunal decisions holding that such transaction charges are not to be added to brokerage for service tax purposes. No contrary authority or ground was shown to disturb that settled position.

Conclusion: The inclusion of transaction charges in brokerage for service tax levy was rejected and the appeals were dismissed, in favour of the assessee.

---