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of <h1>Clarification on Service Tax: No Double Taxation When Using Brokers from Different Stock Exchanges for Securities Trading.</h1> The circular addresses concerns about potential double taxation when an investor uses brokers from two different stock exchanges for buying or selling securities. It clarifies that service tax is applied to the brokerage or commission charged by each broker, which is legally and conceptually correct. If an investor uses a broker from one exchange to access another, they pay service tax on both brokers' commissions. This is not double taxation but a result of the investor choosing to pay for convenience. The service tax is a percentage of the brokerage, and thus, there is no double taxation involved.
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