Service tax liability of a sub-broker

Queries 680 views 2 replies

Guest Lecturer I T IPCC

70 Points Joined May 2009

Dear boarders, A friend of mine want to become a sub-broker in equity markets.

(1). Will he has to constitute a proprietorship firm for that???

(2). If yes, what will be his service tax liability?

An urgent reply will be appreciated.

Thanks in advance

Replies (2)

Consultant

50 Points Joined June 2010

he can function as any type of entity. type of entity will not affect service tax liability

CA CS

4447 Points Joined December 2007

As per Notification No. 31/2009 dated 01.09.2009 any taxable service provided by sub-broker to stock broker will not liable to service tax. Further issue was also clarified by Circular No. 334/13/2009 dated 06.07.2009

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