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Service tax liability of a sub-broker

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Kartikey Punetha

Guest Lecturer I T IPCC

33 Points Posted on 11 February 2012

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)

adamya

Consultant

66 Points Posted on 12 February 2012

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

CA Nikhil Jhanwar

CA CS

3575 Points Posted on 13 February 2012

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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Service tax liability of a sub-broker

Kartikey Punetha

adamya

CA Nikhil Jhanwar

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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Service tax liability of a sub-broker

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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