Service tax for Stock Sub Broker.

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

07 May 2010 As per the provisions of the law, if a service provider is using the registered or unregistered brand name of any other concern during the course of providing taxable service than he will not be eligible to get SSI exemption. Whether the same principle is apply to Stock Sub broker who is using the brand name of any main broker registered with SEBI. In that case whether sub broker will get the benefit of SSI exemption or not?

Aditya Maheshwari

Aditya Maheshwari (Expert)
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07 May 2010 As per notification no. 31/2009 services provided by a subbroker to the stock broker are not liable for service tax.

Visit this link for the notification
https://servicetax.gov.in/notifications/notfns-2k9/st31-2k9.pdf

Querist : Anonymous

Querist : Anonymous (Querist)

07 May 2010 Adityaji Thanx for the reply. But What about the service provided before this notification comes into effect? Whther Sub broker can get the benefit of SSI exemption or not.

Aditya Maheshwari

Aditya Maheshwari (Expert)
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07 May 2010 No the subbroker cannot take benefit of SSI exemption before this notification i. e. before 01.09.2009 as the Stock Sub broker is using the brand name of any main broker and the exemption is not available for person using brand

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