Service tax charge timing: tax arises when commission or brokerage is billed; no tax where no commission is charged. Service tax on stockbroker commission or brokerage is payable when the broker raises a bill; the taxable value is the aggregate commission or brokerage charged, including sub-broker payments. Bills must show each transaction separately (or separate bills issued) so tax is charged per transaction. If a transaction is incomplete and no commission is charged, the taxable value is nil and no service tax is collectible or payable.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Service tax charge timing: tax arises when commission or brokerage is billed; no tax where no commission is charged.
Service tax on stockbroker commission or brokerage is payable when the broker raises a bill; the taxable value is the aggregate commission or brokerage charged, including sub-broker payments. Bills must show each transaction separately (or separate bills issued) so tax is charged per transaction. If a transaction is incomplete and no commission is charged, the taxable value is nil and no service tax is collectible or payable.
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