Delta Corp Unit Gets Interim Relief On Rs 6,384 Crore GST Notice

The court directed that no effect be given to any order passed by the tax authority in relation to the show-cause notice, the company said in an exchange filing on Wednesday.

In October, Deltatech Gaming Ltd. received an intimation for payment of the shortfall tax from the Directorate General of GST Intelligence, Kolkata.

The alleged tax shortfall of Rs 6,236 crore was from January 2018 to November 2022, while another Rs 147 crore was for July 2017 to October 2022.

The company had said that it would pursue all legal remedies available to them to challenge such tax demands and related proceedings.

In September, the company received a demand notice for a goods and services tax of over Rs 16,000 crore. Delta Corp., however, said the amount claimed in the notice is “based on the gross bet value of all games played at the casinos during the relevant period.”

In relation to the Rs 16,000 crore tax notice, the Bombay High Court granted interim relief in late October.

The total tax demand for the company aggregates to over Rs 22,300 crore, while the market capitalisation of the company stands at Rs 3,720.68 crore on BSE.

Shares of Delta Corp. closed 0.54% lower at Rs 138.90 apiece, as compared with a 0.38% advance in the Nifty 50.

 

Source - https://www.bqprime.com/gst/delta-corp-unit-gets-interim-relief-on-rs-6384-crore-gst-notice