Company Taking Calculated Business Risk Cannot Challenge Root Of Contract Merely Due To Change In Tax Laws: Calcutta HC Denies GST Refund

The Calcutta High Court has recently dismissed writ petitions by M/s Kayal Construction, which had been awarded tenders floated by the state government, on the condition that the petitioner would bear expenses for all the taxes/cess payable. Petitioners contended that the rates for the taxes/cess payable had been specified in the terms of contract, and that due to the subsequent implementation of…