Buying/selling of securities by a member of one stock exchange through a member of another stock exc

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....ons have been received by the Board by various quarters for clarifications whether Service Tax is chargeable at both the ends when an investor is provided with taxable service by two brokers of different exchanges. The situation envisaged is as follows: If a Calcutta based investor buys a security quoted on the Bombay Stock Exchange through his broker in Calcutta, he ends up paying Service Tax t....

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.... or brokerage charged by him on the sale or purchase of securities. In the situation pointed out above, the investor is provided with taxable service by two brokers. First by the Bombay Stock Exchange broker through the Calcutta Stock Exchange broker and then by the Calcutta Stock Exchange broker. Since the commission/brokerage is charged at both the ends, the charge of service tax at both the en....