https://www.taxtmi.com/caselaws?id=1628 The Tribunal found that the service tax liability on sub-brokers for commissions received from the main broker was not justified. The main broker had already paid service tax on the gross commission amount, and the sub-brokers were deemed more like commission agents rather than brokers actively involved in securities transactions. As the sub-brokers were not directly engaged in the sale and purchase of securities at the stock exchange, the levy was limited to stock brokers only. Therefore, the impugned orders were set aside, and the appeals of the sub-brokers were allowed with consequential relief granted to them. en-us Wed, 21 Feb 2007 00:00:00 +0530 Mon, 30 Jun 2008 17:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=1628 The Tribunal found that the service tax liability on sub-brokers for commissions received from the main broker was not justified. The main broker had already paid service tax on the gross commission amount, and the sub-brokers were deemed more like commission agents rather than brokers actively involved in securities transactions. As the sub-brokers were not directly engaged in the sale and purchase of securities at the stock exchange, the levy was limited to stock brokers only. Therefore, the impugned orders were set aside, and the appeals of the sub-brokers were allowed with consequential relief granted to them. Case-Laws Service Tax Wed, 21 Feb 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=1628