Delta Corp shares surge 7% after SC stays show cause notice up to ₹1.1 lakh crore until March 17
4 days, 19 hours ago

Delta Corp shares surge 7% after SC stays show cause notice up to ₹1.1 lakh crore until March 17

Live Mint  

Shares of Delta Corp climbed by as much as 7 per cent on January 10 after the Supreme Court put a hold on GST show cause notices amounting to ₹1.12 lakh crore issued to online gaming companies. Online gaming companies received 71 show-cause notices for allegedly evading Goods and Services Tax amounting to ₹1.12 lakh crore during 2022-23 and the first seven months of 2023-24. The gaming industry had requested a stay on the GST show cause notices, raising concerns about potential coercive actions by tax authorities in connection with these notices. The DGGI issued tax demands totaling ₹1.12 lakh crore against 71 online gaming companies, which could escalate to ₹2.3 lakh crore when including penalties.

Supreme Court Notices Show Cause Crore Delta Corp Cause Notice Online Gaming Companies  cause  notice  supreme  court  gaming  delta  surge  crore  sc  tax  online  issued  stays  shares  lakh  corp  notices

History of this topic

Q3 Results Impact: Delta Corp shares slide 5%, near 52-week low on weak Q3FY25 earnings
18 hours, 58 minutes ago

Q3 Results Impact: Delta Corp shares slide 5%, near 52-week low on weak Q3FY25 earnings

Live Mint  

Shares of Delta Corp dropped by approximately 5 percent on Tuesday, January 14, following the company's subdued earnings for Q3FY25. Delta Corp reported a 3.5 percent year-over-year increase in net profit, amounting to ₹35.7 crore for the quarter ending December 31, 2024, compared to ₹34.5 crore in the same period last fiscal. Delta Corp, India’s largest listed casino and gaming …

Supreme Court relief to online gaming companies on GST issue
4 days, 1 hour ago

Supreme Court relief to online gaming companies on GST issue

New Indian Express  

NEW DELHI: In a major relief to online gaming companies, the Supreme Court on Friday put a stay on GST show-cause notices amounting to Rs 1.12 lakh crore against these companies. As per lawyer Abhishek Rastogi, this stay not only provides immediate respite to gaming companies from potential coercive action but also safeguards the interests of revenue authorities. “By pausing …

Supreme Court stays GST tax notices seeking ₹1.5 trillion from online gaming companies till final ruling
4 days, 18 hours ago

Supreme Court stays GST tax notices seeking ₹1.5 trillion from online gaming companies till final ruling

Live Mint  

The Supreme Court on Friday stayed all tax notices issued by the revenue department to online gaming companies, estimated at more than ₹1.5 trillion, on pleas by both parties and scheduled a hearing on the matter for 18 March. For example, notices issued by the Directorate General of GST Intelligence to online gaming companies related to FY18 will expire on …

Online gaming companies get ₹1 lakh crore GST show cause notices so far
1 year, 2 months ago

Online gaming companies get ₹1 lakh crore GST show cause notices so far

The Hindu  

GST authorities have issued show cause notices worth ₹1 lakh crore to online gaming companies for tax evasion so far, a senior official said on October 25. The government has amended the GST law, making it mandatory for overseas online gaming companies to register in India from October 1. "Online gaming companies served notices worth about ₹1 lakh crore by …

Gaming, gambling firms sent notices for ₹1 trillion GST dues
1 year, 2 months ago

Gaming, gambling firms sent notices for ₹1 trillion GST dues

Live Mint  

Online gaming platforms and casinos have been sent show-cause notices to reclaim over ₹1 trillion in goods and services tax, but the recovery of the amount will depend on what the Supreme Court decides on the dispute, a government official said on Wednesday. Ltd, which secured a favourable order from the Karnataka high court in May on the levy of …

Delta Corp soars over 8% as Bombay HC restrains GST tax notice for firm
1 year, 2 months ago

Delta Corp soars over 8% as Bombay HC restrains GST tax notice for firm

Live Mint  

Shares of Delta Corp surged over 8 percent on Wednesday after the Bombay High Court restrained tax authorities from passing any final order on the ₹16,195-crore GST notice issued to the Casino operator. On September 25, Delta Corp received a notice for a tax shortfall of ₹11,140 crore, whereas, its subsidiaries were issued notices for an amount totalling ₹5,682 crore. …

Bombay High Court Restrains GST Dept. From Passing Final Order On Demand Notices Against Delta Corp.
1 year, 2 months ago

Bombay High Court Restrains GST Dept. From Passing Final Order On Demand Notices Against Delta Corp.

Live Law  

The Bombay High Court has restrained the GST Department from passing final order on demand notices against Delta Corp.The bench of Justice M.S. The Bombay High Court has restrained the GST Department from passing final order on demand notices against Delta Corp. In addition to contesting several other circulars, clarifications, and rate notifications issued by the Central Board of Indirect …

Sikkim High Court Stays GST Show Cause Notice Against Casino And Online Gaming Company, Delta Corp.
1 year, 2 months ago

Sikkim High Court Stays GST Show Cause Notice Against Casino And Online Gaming Company, Delta Corp.

Live Law  

The Sikkim High Court has stayed the GST demand against casino and online gaming company Delta Corp.The bench of Justice Bhaskar Raj Pradhan has mandated that the department and respondents maintain the status quo regarding the show cause notice. The Sikkim High Court has stayed the GST demand against casino and online gaming company Delta Corp. The bench of Justice …

Delta Corp shares hit 52-week low as company’s subsidiary receives GST notice
1 year, 2 months ago

Delta Corp shares hit 52-week low as company’s subsidiary receives GST notice

Live Mint  

Stock market today: Delta Corp shares fell 10 percent on Monday after the company's subsidiary, Deltatech Gaming Limited, received a Goods and Services Tax notice for payment of ₹6,384 crore owing to tax shortfall. And the fresh notice received by Deltatech Gaming Limited has only made matters worse for the stock. In an exchange filing, the company said, "In addition …

Delta Corp gets another GST shortfall notice of ₹6,384 crore
1 year, 3 months ago

Delta Corp gets another GST shortfall notice of ₹6,384 crore

Live Mint  

Delta Corp has received fresh notices of alleged shortfall in the payment of Goods and Services Tax to the tune of ₹6,384 crore, as per a regulatory filing made by the casino chain operator on October 14. This comes nearly three weeks after Delta Corp had received tax shortfall notices amounting to ₹16,822 crore. “The notice advises Deltatech Gaming Ltd …

Delta Corp shares rally over 4% after Q2 results
1 year, 3 months ago

Delta Corp shares rally over 4% after Q2 results

Live Mint  

Delta Corp share price rallied over 4% Thursday after the company reported its results for the second quarter ending September 2023. Delta Corp, the casino operator, on Wednesday reported a 1.68% rise in its Q2FY24 net profit to ₹69.4 crore from ₹68.25 crore in a year ago period. The gaming company received show cause notices from the GST department for …

Delta Corp shares in focus after GST Council clears 28% tax on online gaming
1 year, 6 months ago

Delta Corp shares in focus after GST Council clears 28% tax on online gaming

Live Mint  

Shares of Delta Corp Ltd will be in focus on July 12 after the goods and services tax council at its 50th meeting on July 11 decided to levy a 28 per cent GST rate on the full value of gaming, horse racing, and casinos - which comes as a drawback to online gaming companies. "Will bring an amendment to …

Discover Related