02 August 2011
PLEASE TELL ME THAT 1. SUB BROKERS ARE LIABLE TO SERVICE TAX FOR THE BROKERAGE CHARGED FROM THE CLIENTS ON THE BEHALF OF WHOM THEY DEAL WITH MAIN BROKER OR SECURITIES EXCHANGE. 2. IF SUCH BROKER IS INDIVIDUAL THEN WHAT IS THE DUE DATE TO PAY SERVICE TAX AND TO FILE THE REFUND. 3. IF SOME SERVICE PROVIDER OMITS TO CLAIM THE CENVAT CREDIT FOR THE SERVICE TAX PAID ON THE INPUT SERVICES IN ONE QUARTER,THEN CAN HE CLAIM THE SAME CREDIT ,WHICH IS OMITTED,IN THE NEXT QUARTER? 4. CAN THE SUB BROKER TAKES THE CREDIT FOR SERVICE TAX PAID ON ALL THE INPUT SERVICES(e.g. telephone services,consultancy services and other) OR HE CAN CLAIM ONLY ON THE INPUT S.TAX PAID TO MAIN BROKER ONLY
02 August 2011
Exemption to services provided by sub-broker: Sub- brokers are not liable to service tax under ‘stock broker’s service’ w. e. f. 01.09.2009. (Notification No. 31/2009-ST dated 01.09.2009)
02 August 2011
THEY ARE NOT LIABLE TO SERVICE TAX FOR THE SERVICES RENDERED TO STOCK BROKER. BUT ARE HOWEVER LIABLE TO SERVICE TAX ON BROKERAGE CHARGED FOR THE SERVICES RENDERED TO THEIR CLIENTS. IN THIS CASE WHAT TO DO WITH ABOVE QUIRES .
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