Levy of Service Tax on Depository Service under Banking & other Financial services.

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....ntral Depository Services (India) Limited (CDSL). CDSL is providing depository services in respect of DEMAT stocks to its customers. It has also implemented "Electronic Access to Securities Information" (easi), to enable the owner to access accounts in the first phase and transact depository business in the second phase of the project. CSDL charges certain fee such as registration fee, annual fee ....

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....es including "banking and other financial services" which are provided through INTERNET. 4. Service tax has been imposed on 'banking and other financial service' with effect from 16.07.2001. Depository service is one of the services covered under the category of 'banking and other financial services.' The definition of 'Banking and other financial services' as given in section 65 of the Finance A....