While FM keen to reduce the deficit , why he does not bring future and options and derivatives under service tax?
.it is just bcoz game of super rich and of those who are at high echelon of power and have inherent right to gamble ?
State should legalise gambling houses and levy service tax on the turn over .
is it bcoz it is source of income to police so big man is pared and aam admi is crushed ?
Options,derivates, and equity shares are already under STT. this is not a service and hence the service tax cannot be charged. but may be u know or not, the service charge is charged on the brokerage you pay to the broker.,
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The financial transactions are under the service tax for the services renndered. Therefore, its service tax would be collected on the financial charges paid for the service and not on the whole profit/ loss.