STATUTORY VARIATION Clause Samples
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STATUTORY VARIATION. Any statutory increase or decrease in the taxes and duties including GST and cess as applicable subsequent to suppliers offer if it takes place within the original contractual delivery date will be to GETCO’s account subject to the claim being supported by documentary evidence. However, if any decrease takes place after the contractual delivery date, the advantage will have to be passed on to GETCO. Statutory Variation clause shall not be applicable in case of supplier/contractor has opted for composition scheme under GST.
STATUTORY VARIATION. 10.1 All statutory variations, change in law or imposition of any new taxes/ duties / levies by any Central Government/ State Government/ Civil Agencies shall be to Contractor’s account except for statutory variations in GST, which shall be reimbursed by ▇▇▇▇▇▇▇▇▇ against documentary evidence submitted by the Contractor.
STATUTORY VARIATION. Any increase in the statutory taxes and duties (as specified in the price bid) subsequent to bidder’s offer & during the contract period will be borne by NCPOR & will be paid to the Contractor against documentary evidence. And in case of any decrease in taxes and duties, the advantage should be passed on to the NCPOR.
STATUTORY VARIATION. Any Statutory Variation during the tenor of contract execution and billing shall be borne by customer and to be paid extra as applicable towards introduction of new or change in rates of Taxes & duties, Local Levies, cess, fees removal of exemptions, etc. for import, export, local supplies & services.