https://www.taxtmi.com/caselaws?id=280919 The Tribunal granted the applicant's request for waiver of Service Tax amount and penalties. It found that the turnover tax, transparently disclosed separately in contract notes as payable to the stock exchange, should not be considered part of assessable value for Service tax. The Tribunal agreed that turnover tax is distinct from brokerage, supporting the applicant's position. Consequently, the pre-deposit of Service tax and penalties was waived, and the stay petition was approved. en-us Mon, 29 Jan 2007 00:00:00 +0530 Sat, 25 May 2019 12:51:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=280919 The Tribunal granted the applicant's request for waiver of Service Tax amount and penalties. It found that the turnover tax, transparently disclosed separately in contract notes as payable to the stock exchange, should not be considered part of assessable value for Service tax. The Tribunal agreed that turnover tax is distinct from brokerage, supporting the applicant's position. Consequently, the pre-deposit of Service tax and penalties was waived, and the stay petition was approved. Case-Laws Service Tax Mon, 29 Jan 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=280919