Statutory Variation definition

Statutory Variation. If there is any statutory change in GST/SGST/UT-GST/CGST within contractual delivery period, the same shall be admissible and will be paid at actual based on documentary evidence. However, no upward revision in the same beyond original delivery period shall be admissible.]
View Source

Examples of Statutory Variation in a sentence

  • Statutory Variation clause shall not be applicable in case of supplier/contractor has opted for composition scheme under GST.

  • Further Statutory Variation clause will not be applicable in case of Supplier / Contractor has opted for Composition Scheme under GST.

  • Any Statutory Variation during the tenor of contract execution and billing shall be borne by ▇▇▇▇▇ 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.

  • 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.

  • Statutory Variation Clause No. 5.0 of GCC to be read as: 5.0 Statutory Variation 5.1 Statutory variation for CGST/SGST/UGST/IGST is available provided the actual completion of supply does not occur beyond the period stipulated in the order/contract or any extension (without levy of penalty).

  • The Contract Price shall be FIRM & FIXED during the entire execution of the Contract and shall not be subject to any variation except on account of Statutory Variation on direct transaction between the Employer (DVC) & the Contractor.