GST levied by Act of Parliament, constitutes 'change in law', under Power Purchase Agreement

Central Electricity Regulatory Commission holds that enactment of GST with effect from July 1, 2017, would constitute ‘Change in Law’ for adjustment of tariff, in terms of Power Purchase Agreement (PPA) entered by Petitioner for development of Solar Photo Voltaic Power Plants; Observes that, PPAs clearly stipulates that “Change in Law” shall inter alia include enactment, promulgation, adoption in India of any Law, as well as, any change in tax or introduction of any t...