2019 (3) TMI 1147

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....C.S., Member (Judicial) And Shri Madhu Mohan Damodhar, Member (Technical) Shri. Prasanna Krishnan V., Consultant for the Appellant Shri. S. Govindarajan, AC (AR) for the Respondent ORDER Per Bench: Brief facts are that the appellants are engaged in the business of Stock Broking and are registered with the National Stock Exchange (NSE) for buying and selling of shares for their clien....

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.... of Value) Rules, 2006, any expenditure of cost incurred by the service provider has to be included in the taxable value. 2.3 Thus, a Show Cause Notice was issued proposing to demand service tax on these transaction charges collected by the appellant and paid to NSE. After due process of law, the Original Authority confirmed the demand, interest and imposed penalties. In appeal, the Commissione....

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....rted in 2007 (7) S.T.R. 690 (Tri. - Bang.) to argue that the transaction charges cannot be equated to brokerage received by the appellant. 4. Ld. AR Shri. S. Govindarajan appearing on behalf of the respondent supported the findings in the impugned Order. 5. Heard both sides. 6. The issue is whether the transaction charges collected by the appellant and paid to the NSE is subject to levy o....