TaxTMI 
TaxTMI 
2018 (5) TMI 1222
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....the appellants from their customers / stock brokers and deposited with the respective Stock Exchanges, should form part of the gross amount under Section 67 of the Finance Act, 1994 for the purpose of levy of Service Tax. 2. Brief facts of the case are that the appellants are stock / commodity brokers, duly registered with the respective stock exchanges or multi-commodity exchanges. The appellants are also registered with the Service Tax Department for providing the taxable services under the category of Stock Broker Service, Forward Contract Service and Business Auxiliary Service. The appellants discharged Service Tax liability on the consideration collected in respect of the said taxable services provided by them. In addition, the appe....
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.... (Tri-Del.), wherein it has been held that turn over charges etc. cannot be included in assessable value for the purpose of taxation inasmuch as, the same are recovered from investors to make payment as per the SEBI guide lines. The relevant paragraph in the said decision is extracted herein below:- "16.The appellants in these appeals received "turnover charges", stamp duty, BSE charges, SEBI fees and DEMAT charges contending that the same was payable to different authorities and claimed that the same is not taxable. But Revenue taxed the same on the ground that such receipt by stock broker was liable to tax. Revenue failed to bring out whether the turnover charges and other charges in dispute in these appeals received by appellant were ....
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....n the said judgement are extracted herein below:- "23. Obviously, this Section refers to service tax, i.e., in respect of those services which are taxable and specifically referred to in various sub-clauses of Section 65. Further, it also specifically mentions that the service tax will be @ 12% of the 'value of taxable services'. Thus, service tax is reference to the value of service. As a necessary corollary, it is the value of the services which are actually rendered, the value whereof is to be ascertained for the purpose of calculating the service tax payable thereupon. 24. In this hue, the expression 'such' occurring in Section 67 of the Act assumes importance. In other words, valuation of taxable services for char....