No Service Tax on Security Deposit From Customers for Share Trading

Marwadi Shares & Finance Ltd Vs C.C.E. & S.T. (CESTAT Ahmedabad) No service tax payable on interest free security deposits taken from customer towards trading of shares The CESTAT bench of Ahmedabad (“the Tribunal”) in the case of Marwadi Shares & Finance Ltd. v. C.C.E &S.T.-Rajkot (Service Tax Appeal No. 12087 of 2017) held that the Service Tax is not liable to be paid on the amount collected from the customer as interest free security deposit against trading of shares which is subsequently refunded without utilization. Facts: Marwadi Shares & Finance Ltd. (“the Appe...