25 Sep 2023 , 09:30 AM
Delta Corp informed the bourses on September 22 that it has received notification from the Directorate General of GST Intelligence, Hyderabad, for payment of shortfall tax under GST, as well as interest and penalty, for the period from July 2017 to March 2022.
The first notice, for Rs 11,140 crore, was issued straight to Delta Corp. The other notice was issued for Rs 5,682 crore against three of its companies, Casino Deltin Denzong, Highstreet Cruises, and Delta Pleasure Cruises, bringing the total obligation to Rs 16,822 crore.
‘The amount claimed in the DG Notice is based on the gross bet value of all games played at the casinos during the relevant period, among other things. The business stated that ‘demanding GST on gross bet value rather than gross gaming revenue has been an industry issue, and various representations have already been made to the Government at an industry level about this issue.’
Delta Corp further stated that it has been instructed by legal counsel that the DG Notice and the tax demand are arbitrary and contrary to law and that the company will seek all legal options available to it to contest such tax demand and related processes.
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