The Ahmedabad Bench of Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) has held that service tax is not payable on demat or depository charges collected from sub-brokers.The bench of Ramesh Nair (Judicial Member) and Raju (Technical Member) has observed that demat or depository charges are collected by the sub-brokers and paid to the depository participants who are authorised to...