Case Law Details
Saurin Investments Private Limited Vs C.S.T.-Service Tax (CESTAT Ahmedabad)
The dispute relates to includability of NSDL/CSDL charges paid by the appellant to the depositories. The same is recovered by the appellant from their clients. The appellant had not included the said amounts in the assessable value for the purpose of payment of service tax. It is noticed that in the appellant’s own case, the tribunal vide Order No. A/1538/WZB/AHD/2009 dated 16.07.2009 has allowed the exclusion of the said charges from the assessable value relying on the board circular B-11/1100-TRU dated 9.7.2001. The impugned Show Cause Notice issued to the appellant was dropped by the original adjudicating authority on the ground of limitation relying on the aforesaid circular issued by the board. On revenue’s appeal the Commissioner (Appeals) reversed the order and confirmed the demand.
CESTAT held that NSDL/CSDL charges being statutory charges as per SEBI Rules should not be included for the purpose of service tax.
FULL TEXT OF THE CESTAT AHMEDABAD ORDER
The appellant are a stock broking firm. This appeal has been filed against inclusion of NSDL & CSDL charges in assessable value for the purpose of service tax by the appellant.
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