Nazara Tech and Delta Corp slip as SC set to hear Online Gaming Federation's appeal against GST
Nazara Tech was down by 0.48 per cent, or Rs 4.10, at Rs 846.05 at 10:02 am on Monday. Delta Corp, on the other hand, was lower by 1.35 per cent, or Rs 2.05, at Rs 150.20 in morning deals on Monday.
Delta Corp and Nazara Tech are trading lower on BSE on a day when the Supreme Court will hear the case regarding Online Gaming Federation's appeal of imposing 28 per cent GST on online gaming. GST council in July last year imposed a 28 per cent GST on online gaming, horse racing and casinos.
Online Gaming Federation challenge the council's decision in the Supreme Court.
Before that, the federation also wrote to finance ministry, informing how the decision was detrimental to the health of the industry.
After the council's decision, finance minister Nirmala Sitharaman said that the decision to levy 28 per cent GST on online gaming, casinos, and horse racing was not aimed at killing the industry but was made considering the "moral question" that it cannot be taxed at par with essential commodities.
