Shareholders of Delta Corp Ltd can breathe easier as the Goa Bench of the Bombay High Court has prevented tax authorities from finalizing a Rs 16,195-crore GST notice issued to the casino company. Delta Corp and its subsidiaries had previously received notices for a tax shortfall of around Rs 23,000 crore from
July 2017 to March 2022. The Bombay High Court directed tax authorities not to proceed with final orders on the tax notice without its prior permission. Delta Corp’s stock remained stable at Rs 130 despite earlier pressures caused by a 28% tax
on online gaming, casinos, and horse racing. The court hearing is set for February 5, 2024, and the company reported a 1.6% increase in consolidated net profit for the
quarter ending September 30, 2023.