TaxTMI 
TaxTMI 
SUB-BROKER TO BE ADDED THE BROKER CENTRALIZED REGISTRATION OR NOT
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....UB-BROKER TO BE ADDED THE BROKER CENTRALIZED REGISTRATION OR NOT<br> Query (Issue) Started By: - parameswaran ramalingam Dated:- 28-2-2012 Last Reply Date:- 29-2-2012 Service Tax<br>Got 4 Replies<br>Service Tax<br>Dear Sir, The company nature of business is stock broking. it is registered under NSE and BSE as per SEBI regulation. The assessee was created sub-brokers in all around India. The reven....
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....ue has been generated from own branches as well as sub-brokers. The company is centralized service tax registration for their own branches not for sub-brokers. But entire broking charges are taxable at the hand of stock broker not from the sub-broker as per amendment M.F. (D.R.) letter D. O. F. No. 334/13/2009-TRU dated 06.07.2009. My question is : Whether SUB BROKER to be added the stock broker ....
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....centralized registration or NOT Reply By Pradeep Khatri: The Reply: There is no requirement to include the sub broker in the Centralized Registration Certificate. Reply By parameswaran ramalingam: The Reply: Thanks for your instant repy. pls provide if you having any notification or circular relating to non requirement of sub-brokers not to be added with stock broker centralized registration. ....
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.... Reply By Vivek Harsh: The Reply: Notification No. 31/2009 -ST dated - 01-09-2009 Exempt Services in relation to sale or purchase of securities listed on a registered stock exchange by a sub-broker................my view is that when stock brokers are exempt from services question of adding SUB BROKER to stock broker centralized registration or NOT doesnot arise. Reply By DEV KUMAR KOTHARI: The ....
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....Reply: Replies of learned readers is correct. There is exemption for services of sub-brokers, the exemption is also with a view to simplify the admininstration becasue in case sub-brokers are not exempted, their services shall be input service to main broker/ member of S.E. and they will get credit for tax if levied by sub-broker. Therefore, sub-brokers need not be added in Centralized Registrati....
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