Why Delta Corp shares will be in focus next week — explained

livemint.com:

Stock in focus: Delta Corp shares will be in focus next week as the Indian casino major has received intimation for payment of shortfall tax to the tune of ₹1,11,39,61,03,423. The Directorate General of GST Intelligence, Hyderabad has issued notice to the company in this regard.

Delta Corp informed about the receipt of intimation in its exchange filing on Friday. This may dent Indian stock market's mood as the tax notice has come at a time when the company is already facing heat over the recent move in July by the country's Goods and Services Tax (GST) Council to impose a 28 per cent indirect tax on the money collected by gaming companies from customers.

Delta Corp informed about the DG of GST Intelligence notice citing, "The DG Notice advises the Company to pay an alleged tax liability of INR 1,11,39,61,03,423 (Rupees Eleven Thousand One Hundred and Thirty Nine Crore Sixty One Lakh Three Thousand Four Hundred and Twenty Three) along with interest and penalty for the period from July 2017 to March 2022 , failing which a show cause notice will be issued to the Company under Section 74(1) of the CGST Act, 2017 and Goa SGST Act, 2017." Divulging about the details of tax shortfall raised by the DG of GST Intelligence, Delta Corp said that the company has received tax shortfall of ₹6,28,20,31,726 in connectiong to Casino Deltin Denzong, Sikkim; ₹32,89,94,41,744 tax shortfall by Highstreet Cruises and Entertainment Pvt. Ltd — a subsidiary of Delta Corp and ₹17,65,21,80,638 tax shortfall by another Delta Corp subsidiary Delta Pleasure Cruise Company Private Limited.