🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥

Startup Showcase

Premium Content

Try our Valuation Calculator →

News on Medial

Casino operator Delta Corp subsidiary gets Rs 6,384 crore GST notice from DGGI

IndianStartupNews

IndianStartupNews · 1y ago

Casino operator Delta Corp subsidiary gets Rs 6,384 crore GST notice from DGGI

Indian casino operator Delta Corp's subsidiary, Deltatech Gaming, has received a notice from the Directorate General of GST Intelligence demanding payment for a tax shortfall of Rs 6,384 crore. This adds to Delta Corp's existing tax liabilities totaling Rs 23,206 crore. The notice is based on the gross bet value of games played, following the GST council's decision to impose a 28% tax on the full face value of chips purchased for playing.

Related News

Delta Corp shares rise nearly 5% amid likely relief at GST Council meeting

Money Control

Money Control · 11m ago

Delta Corp shares rise nearly 5% amid likely relief at GST Council meeting

Shares of Delta Corp, a casino operator, rose nearly 5% on September 6. This increase was due to the likelihood of relief being granted at the GST Council meeting on September 9. The meeting aims to discuss the interpretation of a recently introduced amendment in the GST Act, which could potentially bring relief to retrospective tax demands. The outcome of the meeting may have significant implications for the real-money gaming industry, including companies like Delta Corp's Adda52. The gaming industry has faced substantial GST retrospective tax demands since July 2017.

Delta Corp Q3 FY24 update: Net Profit declines 59% yoy to ₹34 crore

Livemint

Livemint · 1y ago

Delta Corp Q3 FY24 update: Net Profit declines 59% yoy to ₹34 crore

Casino and gaming services company, Delta Corp, witnessed a 59.34% decline in net profit for the quarter ending in December, with a consolidated net profit of ₹34.48 crore. The company's revenue from operations for the quarter decreased by 15.58%, standing at ₹234.41 crore. While the casino and online gaming divisions experienced a significant drop in revenue, the hospitality division saw an improvement. Delta Corp intends to challenge the arbitrary tax demands it received from authorities.

Nazara Technologies gets Rs 2.83 crore GST show cause notice

Economic Times

Economic Times · 1y ago

Nazara Technologies gets Rs 2.83 crore GST show cause notice

Nazara Technologies, an online gaming and esports company, has received a show cause notice from the Directorate General of GST Intelligence (DGGI) for a GST demand of Rs 2.83 crore. The demand is related to the export of certain services for which Nazara did not pay GST. The notice states that as export proceeds have not been received due to a force majeure event, the services cannot be treated as exports, and the company is responsible for paying IGST at 18%. Nazara plans to file its response to the notice within the prescribed timelines.

Online gaming companies get summons for cashback to players since October

Economic Times

Economic Times · 1y ago

Online gaming companies get summons for cashback to players since October

The Directorate General of GST Intelligence (DGGI) has issued fresh summons to online gaming companies, including Delta Corp, to provide information on the cashback given to players. The DGGI found that taxed money was being reimbursed to players as cashback in separate promo accounts by gaming companies after the implementation of the 28% GST on the full betting amount. The investigation focuses on cashback provided between October 2023 and June 15, 2024. Gaming companies are already facing tax demands of around ₹1.14 lakh crore with pending appeals in courts.

India's Delta Corp shares sink on $1.34 bln tax blow

Reuters · 1y ago

India's Delta Corp shares sink on $1.34 bln tax blow

Shares of Indian casino operator Delta Corp plunged by 20% after receiving a notice to pay 111.40 billion rupees ($1.34 billion) in tax arrears. The company and its units also received intimations of an additional tax shortfall of 56.83 billion rupees. This adds to the challenges faced by the gaming company, which has already been dealing with elevated levies imposed by the federal government. The stock's decline is the sharpest since July 12, when a 28% indirect tax was imposed on gaming companies. The shares have fallen by 32% this year.

DGGI closing pre-show cause GST notice proceedings of Rs 3,898 cr for 2017-18: Infosys

YourStory

YourStory · 1y ago

DGGI closing pre-show cause GST notice proceedings of Rs 3,898 cr for 2017-18: Infosys

Infosys, India's second-largest IT services company, received communication from the Directorate General of GST Intelligence (DGGI) closing the pre-show cause notice proceedings for the financial year 2017-2018. The notice amounted to INR 3,898 crore ($522 million). Earlier in the week, Infosys received a INR 32,403-crore ($4.34 billion) GST notice from authorities. DGGI is responsible for improving compliance with indirect tax laws in India. Infosys believes that GST is not applicable to the mentioned expenses and has paid all its dues.

Crypto Exchange Binance Gets INR 722 Cr GST Demand Notice

Inc42 · 1y ago

Crypto Exchange Binance Gets INR 722 Cr GST Demand Notice

Binance, a popular cryptocurrency exchange platform, has been issued a show-cause notice by the Directorate General of Goods and Services Tax Intelligence (DGGI) in India. The notice demands payment of INR 722 crore in Goods and Services Tax (GST). The tax demand arises from transaction fees amounting to INR 4,000 crore collected by Binance from Indian traders. This follows a recent fine of INR 18.82 crore by the Financial Intelligence Unit (FIU) for violations of anti-money laundering regulations.

SC stays order quashing ₹21,000-crore GST notice to Gameskraft

BQ Prime

BQ Prime · 1y ago

SC stays order quashing ₹21,000-crore GST notice to Gameskraft

The Supreme Court has halted the enforcement of a Karnataka High Court decision that invalidated a ₹21,000-crore show-cause notice issued by the Directorate General of GST Intelligence (DGGI) to Gameskraft Technologies. According to the DGGI, Gameskraft has amassed ₹70,000 crore in betting funds from approximately 45 lakh players over five years. The DGGI also argued that, based on a Supreme Court ruling, games played with stakes are liable to GST.

Paytm gets relief as Supreme Court stays Rs 5,712 Cr GST notice

Entrackr

Entrackr · 3m ago

Paytm gets relief as Supreme Court stays Rs 5,712 Cr GST notice

Paytm gets relief as Supreme Court stays Rs 5,712 Cr GST notice. In its order, the apex court directed, “Further proceedings of all the impugned show cause notices shall remain stayed till the final disposal of the main matter along with all the matters which are tagged.” The Supreme Court of India has stayed the proceedings of a Rs 5,712 crore GST Show Cause Notice (SCN) issued to First Games Technology Private Limited, a subsidiary of One 97 Communications Ltd (Paytm). Paytm shared the update in a regulatory filing on May 24, after the Supreme Court issued an interim order on May 23. The order came in response to a petition by First Games, which challenged a GST notice from the Directorate General of GST Intelligence (DGGI) for the period from January 2018 to March 2023. In its order, the apex court directed, “Further proceedings of all the impugned show cause notices shall remain stayed till the final disposal of the main matter along with all the matters which are tagged.” The stay gives Paytm’s gaming arm temporary legal relief and more time to defend its case without facing immediate penalties. Earlier, Paytm said the notice is part of an ongoing issue in the online gaming industry. The disagreement is about GST being charged at 28% on the full entry amount, while gaming companies believe it should be 18% only on their actual earnings from platform fees. The SCN is part of a broader industry-wide probe by the GST department, which has issued similar notices to several gaming companies. The matter is being closely monitored by stakeholders across the online gaming sector. Paytm's operating revenue fell by 16% year-on-year to Rs 1,911 crore in the fourth quarter of FY25, down from 2,267 crore in the same quarter of FY24. However, the Noida-based company narrowed its losses to 23 crore in Q4 FY25, a 96% reduction from 536 crore in Q4 FY24.

Karnataka GST authorities ask Infosys to file fresh response to DGGI after recalling notice

YourStory

YourStory · 1y ago

Karnataka GST authorities ask Infosys to file fresh response to DGGI after recalling notice

The Karnataka authorities have withdrawn the pre-show cause notice served to Infosys and asked the IT company to submit a fresh response to the Directorate General of GST Intelligence (DGGI) regarding a GST demand of around Rs 32,400 crore. Infosys had received the notice for services availed by its overseas branches for five years since 2017 but maintained that it believes GST is not applicable to these expenses. The company has committed to responding to the notice. The massive demand is equivalent to over a year's profit for Infosys.

Trackers

Active Indian VC’s

OG Capital Email

With a hands-on approach, OG Capital aims to invest in over 20 promising...

Accel Partners Email

Early and growth-stage investments in disruptive technology companies with...

Early-stage venture capital firm investing in technology startups in India. Focus on...

Access All Trackers

Startup Showcase Winners

June 2025

Helping your parents when you are miles away

The Pit Stop Your Cravings Deserve

The next generation E-commerce platform

Enter Ongoing Startup Showcase

Top Users

Trending News on Medial

Download the medial app to read full posts, comements and news.