https://www.taxtmi.com/caselaws?id=181725 The court ruled in favor of the respondent in both instances, regarding compensation for additional costs due to an increase in service tax rates on insurance premium and bank guarantee charges. The court interpreted clause 70.8 of the General Conditions of the Contract to allow for adjustments in costs arising from changes in tax rates, dismissing the petitioner's argument that the clause only applies to costs with a constructional input element. Precedents from previous judgments were cited to support the decision, leading to the dismissal of objections raised in the petitions. en-us Mon, 21 Oct 2013 00:00:00 +0530 Thu, 11 May 2017 17:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=181725 The court ruled in favor of the respondent in both instances, regarding compensation for additional costs due to an increase in service tax rates on insurance premium and bank guarantee charges. The court interpreted clause 70.8 of the General Conditions of the Contract to allow for adjustments in costs arising from changes in tax rates, dismissing the petitioner's argument that the clause only applies to costs with a constructional input element. Precedents from previous judgments were cited to support the decision, leading to the dismissal of objections raised in the petitions. Case-Laws VAT and Sales Tax Mon, 21 Oct 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=181725