No service tax payable on interest free security deposits taken from customer towards trading of shares
Court :
CESTAT bench of Ahmedabad
Brief :
The CESTAT bench of Ahmedabad ("the Tribunal") in the case of Marwadi Shares & Finance Ltd. v. C.C.E &S.T.-Rajkot (Service Tax Appeal No. 12087 of 2017) held that the Service Tax is not liable to be paid on the amount collected from the customer as interest free security deposit against trading of shares which is subsequently refunded without utilization.
Citation :
Service Tax Appeal No. 12087 of 2017
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Bimal Jain
Published in Service Tax
Views : 1111
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