Delta Corp soars over 8% as Bombay High Court restrains GST tax notice for firm

In this article, we will talk about Delta Corp shares. Delta Corp Limited, formerly Arrow Webtex Ltd, is an Indian Public company specializing in gaming and hospitality. The firm’s primary assets encompass offshore Casino and hospitality services, operating under the Deltin Casinos & Hotels brand. Delta Corp shares surged more than 8% on Wednesday after the Bombay High Court restrained tax rules from passing any final order on the 16,195 crore GST notice issued to the Casino operator. Now many people are very curious to know about the whole information about the news. We have more information about the news and will share it with you in this article.

Delta Corp

According to the report, the order was passed by the Goa Bench of Bombay High Court. The stock rushed up to 8.2% to its day’s high of 140.70. The stock has already cleared over 42% in the previous 1 year and 36% in 2023 YTD. It also lost more than 21% in September after the Directorate of GST Intelligence, Hyderabad sent notice of GST shortfall to the firm. Now many are super keen to know the whole information about the news. Scroll down to the next page for more information about the news.

Delta Corp informed stock exchanges ” Basis a statement created on behalf of the concerned tax rules, the Hon’ble High Court has directed such authorities not to pass any final orders on the captioned show cause notices without the preliminary permission of the Hon’ble High Court. Dates are fixed for the fulfillment of pleadings and the hearing and final disposal of such writ petitions. Delta revealed on 22 September that required payments for the shortfall of tax from the Directorate General of GST Intelligence Hyderabad. You are on the right page for more information about the news, so please read the complete article.

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As far as we know, notices have been sent to Delta Corp and its subsidiaries as follows. Delta Corp: close to 11,140 crore: subsidiary Highstreet Cruises and Entertainment: nearly 3,290 crore and subsidiary Delta Pleasure Cruise Company: about 1,766 crore. On 25 September 2023, Delta Corp got a notice for a tax shortfall of 11,140 crores, whereas, its subsidiaries have been issued statements for a payment totaling 5,682 crore. The reported shortfall in the payment of tax pertained to the period between July 2017 and March 2022. Here we have more information about the news. Here we have shared all the information that we had. Stay tuned to us for more updates.

Gurleen Kaur

I'm a science graduate from the Ahmadu Bello University, Nigeria. My passion for writing has brought me to into the field of content.