Trading in Securities Is Not a Service: CESTAT sets aside Service Tax Demand [Read Order]
The CESTAT held that the authorities below have grossly erred in demanding the tax on the 'investment' made by treating the it'service' although exempted and set aside the order.
In a recent case, the Chennai Bench of Customs, Excise and Service Tax appellate Tribunal ( CESTAT ) has held that trading in securities is not a service and sets aside the service tax demand on the same. M/s. Cognizant Technology Solutions India Private Limited, the appellant/assessee is providing information technology software services and business…
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