No service tax on sub-brokers for forward contracts

Written by fe Bureau | New Delhi | Updated: Feb 5 2014, 03:21am hrs
The revenue department said that service tax will not be levied on sub-brokers providing services relating to forward contracts to members of a commodity exchange from September 2004 to June 2012. The ministry said the service tax payable on such services in the specified period shall not be required to be paid.