Buying/Selling of securities by a Member of one stock exchange through a member of another stock exchange on behalf of an investor

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....two brokers of different stock exchanger' by various quarters. The situation envisaged is as under :- 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 twice, first to the Bombay stock exchange broker & then to the Calcutta stock exchange broker through whom the initial order was placed. In a situati....

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....o 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 ends is both conceptually & legally correct. The investor placed his order for buying a security quoted at the Bombay stock exchange for the reason that e....