<h1>Tribunal Rules Service Tax on Stock Exchange Deals Applies Only to Main Brokers, Exempting Sub-Brokers from Levy.</h1> A recent tribunal decision clarified that service tax on stock exchange transactions applies only to main brokers, not sub-brokers. The tribunal concluded that sub-brokers merely introduce buyers to main brokers and do not engage directly in the sale and purchase of securities. Their role is akin to commission agents, and the service tax under the 'stock broker service' category does not extend to them. Consequently, sub-brokers are not subject to this levy, which is specifically targeted at main brokers handling securities transactions.