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of <h1>Stock Brokers Required to Display Service Tax Separately on Bills for Transparency, as per October 1996 Circular.</h1> The circular issued on October 4, 1996, addresses the practice of displaying Service Tax on brokerage separately in contract notes or bills. Initially, it was recommended for transparency that Service Tax be shown separately. However, due to inconsistencies in practice, the Board re-examined the issue and clarified that stock brokers must prominently display the Service Tax amount on bills related to securities transactions. Stock exchanges and relevant entities are instructed to inform their brokers and trading members about this requirement. This circular was later rescinded by another circular issued on May 10, 2007.
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