Excel FIn Cap Ltd. Vs. the Commissioner of Central

Excel FIn Cap Ltd. vs The Commissioner of Central

Type Court Judgment Court Customs Excise and Service Tax Appellate Tribunal CESTAT Decided May 01, 2007

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Citation: sooperkanoon.com/45443
Court: Customs Excise and Service Tax Appellate Tribunal CESTAT
Judge: J T T.K., S Peeran
Decided On: May 01, 2007
Subject: MRTP

Case Summary

AI-generated summary - not the official court judgment text.

MRTP

Key legal issue: MRTP

Parties & Advocates

Appellant / Petitioner

Excel FIn Cap Ltd.

Respondent

The Commissioner of Central

Legal References

Reported In: (2007)10STJ135CESTAT(Bang.)alore

Excerpt

1. the appellant is seeking waiver of pre-deposit of service tax amount of rs. 1,86,287/-. the appellants were covered under the category of "share brokers" and for the commission or the brokerage received, they have been paying the service tax. however two other elements namely "handling charges" and "terminal charges" were charged from investors.the said charges were not included in the brokerage charges. hence the revenue has proceeded to add the same to recover service tax.2. the learned counsel submits that both the charges have no nexus to the services of brokers and cannot be brought within the ambit of the services of share brokers. he submits that this bench has already granted waiver of pre-deposit of the amount and stay of the recovery in case of first securities pvt. ltd. v. cce, bangalore.3. the learned dr submits that the said matter has been listed for final hearing on 11^th may 2007 and prays for linking this matter with the appeal of m/s first securities pvt. ltd. 4. on a careful consideration of the submissions made by both the sides, we find that in similar matter, the stay order has been passed including waiver of pre-deposit of the amount by stay order no.918/2005 dated 02.12.2005. following ratio of the said order, the stay application is allowed. registry is directed to link this appeal with the matter of m/s first securities pvt ltd. which has been listed for final hearing on 11^th may 2007.

Full Judgment

1. The appellant is seeking waiver of pre-deposit of service tax amount of Rs. 1,86,287/-. The appellants were covered under the category of "share brokers" and for the commission or the brokerage received, they have been paying the service tax. However two other elements namely "handling charges" and "terminal charges" were charged from investors.

The said charges were not included in the brokerage charges. Hence the Revenue has proceeded to add the same to recover service tax.

2. The learned Counsel submits that both the charges have no nexus to the services of brokers and cannot be brought within the ambit of the services of share brokers. He submits that this Bench has already granted waiver of pre-deposit of the amount and stay of the recovery in case of First Securities Pvt. Ltd. v. CCE, Bangalore.

3. The learned DR submits that the said matter has been listed for final hearing on 11^th May 2007 and prays for linking this matter with the appeal of M/s First Securities Pvt. Ltd. 4. On a careful consideration of the submissions made by both the sides, we find that in similar matter, the stay order has been passed including waiver of pre-deposit of the amount by stay order No.918/2005 dated 02.12.2005. Following ratio of the said order, the stay application is allowed. Registry is directed to link this appeal with the matter of M/s First Securities Pvt Ltd. which has been listed for final hearing on 11^th May 2007.

Same Court & Year Customs Excise and Service Tax Appellate Tribunal CESTAT · 2007 Same Parties Excel FIn Cap Ltd. vs The Commissioner of Central Same Subject MRTP Same Judge J T T.K., S Peeran