https://www.taxtmi.com/caselaws?id=269065 Under the SEBI stock-broker fee regime, annual turnover is only the measure of levy, not the subject of levy. Once Schedule IIIA became applicable, Schedule III ceased to operate for future periods, and only liability already accrued under Schedule III before that date could survive under the saving clause. Future registration fee had to be computed under Schedule IIIA alone, not by continuing to apply Schedule III on the basis of turnover. Demands raised under Schedule III for periods after Schedule IIIA applied were therefore unsustainable, and the earlier liability was limited to amounts already accrued before the new schedule took effect. en-us Fri, 04 Dec 2015 00:00:00 +0530 Tue, 08 Dec 2015 10:45:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=269065 Under the SEBI stock-broker fee regime, annual turnover is only the measure of levy, not the subject of levy. Once Schedule IIIA became applicable, Schedule III ceased to operate for future periods, and only liability already accrued under Schedule III before that date could survive under the saving clause. Future registration fee had to be computed under Schedule IIIA alone, not by continuing to apply Schedule III on the basis of turnover. Demands raised under Schedule III for periods after Schedule IIIA applied were therefore unsustainable, and the earlier liability was limited to amounts already accrued before the new schedule took effect. Case-Laws Companies Law Fri, 04 Dec 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=269065