https://www.taxtmi.com/caselaws?id=768821 A GST-linked contractual price-reduction clause applied only where actual additional input tax credit accrued under the input tax regime; a mere change in GST rate, without proof of such credit or contractual basis to treat it as embedded in the bid price, did not justify reducing the contractor's entitlement, so reimbursement under the statutory variation clause was upheld. An arbitral award rejecting a separate contractor claim was set aside because it misread the contract, ignored material evidence such as certification and revised input credit statements, and failed to give adequate reasons, amounting to perversity and patent illegality under Section 34. en-us Wed, 09 Apr 2025 00:00:00 +0530 Sat, 12 Apr 2025 13:06:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=768821 A GST-linked contractual price-reduction clause applied only where actual additional input tax credit accrued under the input tax regime; a mere change in GST rate, without proof of such credit or contractual basis to treat it as embedded in the bid price, did not justify reducing the contractor's entitlement, so reimbursement under the statutory variation clause was upheld. An arbitral award rejecting a separate contractor claim was set aside because it misread the contract, ignored material evidence such as certification and revised input credit statements, and failed to give adequate reasons, amounting to perversity and patent illegality under Section 34. Case-Laws GST Wed, 09 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=768821