GST LEGISLATIONS Clause Samples
The GST Legislations clause defines the parties' obligations and compliance requirements under applicable Goods and Services Tax (GST) laws. It typically specifies how GST will be applied to transactions, who is responsible for charging, collecting, and remitting GST, and may address the provision of tax invoices or the handling of input tax credits. This clause ensures that both parties understand their tax responsibilities, reducing the risk of disputes or penalties related to GST compliance.
GST LEGISLATIONS. ‘GST legislations’ means ‘any or all of the following legislations as may be applicable to the Bidder and ONGC:
i. the Central Goods & Services Tax Act, 2017;
ii. the Integrated Goods & Services Act, 2017;
iii. the Union Territory Goods & Services Tax Act, 2017;
iv. the respective State Goods & Service Tax Acts’
v. the Goods and Services (Compensation to States) Act, 2017 vi. the Customs Act and the Customs Tariff Act.