Delta Corp stock rises after getting relief from Calcutta High Court in GST case
The Calcutta High Court gave the gaming company relief against GST penalty worth thousands of crores. On November 30, Zee Business was the first to report about the Calcutta High Court relief to Delta Corp.
Delta Corp Share Price: Delta Corp shares started the trading session on BSE on Thursday (December 7, 2023) on a higher note after the Calcutta High Court gave the gaming company relief against GST penalty worth thousands of crores.
On November 30, Zee Business was the first to report about the Calcutta High Court relief to Delta Corp.
The company informed the BSE through a statement on Thursday.
The Delta Corp stock was trading higher by 1.30 per cent, or Rs 1.80, at Rs 141.00 at 10:03 am on Thursday.
"We refer to our disclosure dated 14th October, 2023, in relation to the following demand for payment received for shortfall of tax paid by Deltatech Gaming Limited (“DGL”), a subsidiary of the Company from the Directorate General of GST Intelligence, Kolkata (“Tax Authority”).
"Pursuant to a writ petition filed by DGL before the Hon’ble High Court of Calcutta challenging the above demand, the Hon’ble High Court has granted interim relief to DGL and directed that no effect shall be given to any order passed by the Tax Authority in relation to the show cause notice for the above demand without the leave of the Hon’ble High Court," Delta Corp said in a BSE filing on Thursday.
Delta Corp Share Price Performance
The company is in dire straits ever since the government has decided to impose 28 per cent GST on the gaming industry.
The stock has slid 41.66 per cent in the six months, 34.69 per cent year-to-date and 38.22 per cent in the last one year.
The benchmark index Nifty 50, meanwhile, has soared 11.45 per cent in the six months, 14.69 per cent YTD, and 12.45 per cent in the one year.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Power of Compounding: How many years will it take to reach Rs 3 crore corpus if your monthly SIP is Rs 4,000, Rs 5,000, or Rs 6,000
Power of Compounding: Salary Rs 25,000 per month; is it possible to create over Rs 2.60 crore corpus; understand it through calculations
Reduce Home Loan EMI vs Reduce Tenure: Rs 75 lakh, 25-year loan; which option can save Rs 25 lakh and 64 months and how? Know here
Top 7 Large and Mid Cap Mutual Funds with Best SIP Returns in 5 Years: No. 1 fund has turned Rs 15,000 monthly SIP investment into Rs 20,54,384; know about others
New Year Pick by Anil Singhvi: This smallcap stock can offer up to 75% return in long term - Check targets
PSU Oil Stocks: Here's what brokerage suggests on these 2 largecap, 1 midcap scrips - Buy, Sell or Hold?
10:33 AM IST