No Service Tax on NSE/BSE Transaction Charges & SEBI Turnover Fees

Monarch Research & Brokerage P Ltd Vs C.S.T.-Service Tax – Ahmedabad (CESTAT Ahmedabad) The issue involved in this case is whether NSE/BSE transaction charges and SEBI turnover fees paid by the stock brokers to the concerned agencies and recovered from their client is liable to service tax under the category of stock broker service. On Appeal CESTAT held that NSE/BSE transaction charges and SEBI turnover fees is not liable to service tax under head of “stock broker service. FULL TEXT OF THE CESTAT AHMEDABAD ORDER The issue involved in this case is whether NSE/BSE transaction charges a...