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HomeIndirect TaxesDelayed Payment Charges On Stock Broking Advances Are Interest, Not Taxable Service:...

Delayed Payment Charges On Stock Broking Advances Are Interest, Not Taxable Service: CESTAT

Indirect Taxes

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By Mariya Paliwala
Delayed Payment Charges On Stock Broking Advances Are Interest, Not Taxable Service: CESTAT

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The Hyderabad Bench of the Customs, Excise and Service Tax Appellate Tribunal (CESTAT) has held that delayed payment charges collected by a stock broker from clients for delayed settlement of share purchase amounts cannot automatically be treated as consideration for “tolerating an act” under the service tax law.  The bench of Angad Prasad (Judicial Member)…

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Mariya Paliwala
Mariya Paliwalahttps://www.jurishour.in/
Mariya is the Senior Editor at Juris Hour. She has 7+ years of experience on covering tax litigation stories from the Supreme Court, High Courts and various tribunals including CESTAT, ITAT, NCLAT, NCLT, etc. Mariya graduated from MLSU Law College, Udaipur (Raj.) with B.A.LL.B. and also holds an LL.M. She started her career as a freelance tax reporter in the leading online legal news companies.

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