2007 (9) TMI 118

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ed by the Commissioner of Central Excise whereby a demand of service tax amounting to Rs. 21,955/- was confirmed and penalties were imposed. The appellants were providing the service of stock broker. 2. A show cause notice was issued to the appellants raising the demand of service tax of Rs. 52,57,610/- on the ground that the appellants had not paid service tax for providing service of stock br....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... on the ground that there is no evidence regarding depositing of service tax of the portion of taxable value charged by sub broker. 4. The contention of the appellant is that it is not disputed by the revenue and the same has also been verified from the record that appellants are only receiving .04% of the 1% brokerage charged by sub broker from the customer. The appellant relied upon the findi....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....e charged by the sub broker during the period 10- 9-2004 to 30-9-2004 from the appellants who is a stock broker. With effect from 10-9-2004, the sub brokers were also liable to pay service tax as they were specifically included in the definition of stock brokers. Major portion of the demand is dropped by the Commissioner of Central Excise on the ground that service has been provided by the sub bro....