Shares of Delta Corp surged by 6% after the Supreme Court agreed to hear the industry’s plea against GST show cause notices on January 10.
The gaming sector has been under scrutiny for tax-related issues, with the government issuing show cause notices related to Goods and Services Tax (GST) demands.
The Online Gaming Industry has expressed growing concerns over the prolonged delay in resolving these matters, highlighting the financial strain caused by pending tax demands. The industry has raised a plea for a stay on the show cause notices, fearing coercive actions from tax authorities that could result in severe financial implications.
The SC will consider the request for a stay in the next hearing on January 10, making this a crucial date for both the company and the sector as a whole.
Delta Corp’s stock opened at Rs 110.80, hitting a high of Rs 117.70 and a low of Rs 109.63. Over the past 52 weeks, the stock has ranged from a high of Rs 157.90 to a low of Rs 104.45. As of 12:10 PM, Delta Corp shares were trading 3.90% higher at Rs 113.90.
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