{"id":777010197,"date":"2023-10-17T07:43:29","date_gmt":"2023-10-17T10:43:29","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777010197"},"modified":"2026-04-22T17:05:41","modified_gmt":"2026-04-22T20:05:41","slug":"delta-corp-shares-fall-after-new-tax-shortfall-notice","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/delta-corp-shares-fall-after-new-tax-shortfall-notice","title":{"rendered":"Delta Corp shares fall after new tax shortfall notice"},"content":{"rendered":"\n<p>Delta Corp received an additional tax shortfall notice, amounting to Rs63.84bn (US$766.8m).<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>India.- <strong>Delta Corp <\/strong>shares fell 40 per cent closing close to a three-year low on Monday (October 17) after the casino operator revealed that a subsidiary had received an additional tax shortfall notice amounting to Rs63.84bn (US$766.8m). <\/p>\n\n\n\n<p>The operator had received\u00a0<a rel=\"noreferrer noopener\" href=\"https:\/\/focusgn.com\/asia-pacific\/delta-corp-hit-with-us1-34bn-tax-bill\" target=\"_blank\">a prior tax arrears notice<\/a>\u00a0for Rs111.40bn (US$1.3bn) last month. It has been affected by the Goods and Services Tax (GST) Council&#8217;s decision to impose\u00a0<a rel=\"noreferrer noopener\" href=\"https:\/\/focusgn.com\/asia-pacific\/gst-council-confirms-28-gaming-tax-to-start-from-october-1\" target=\"_blank\">a 28 per cent indirect tax on the proceeds collected by gaming companies<\/a>. The tax applies to online gaming, casinos and horse racing.<\/p>\n\n\n\n<p>The company has <strong>expressed opposition to the tax claim<\/strong>. It contests the basis of the levy, which is calculated on gross bet value rather than gross gaming revenue. The latest news comes after\u00a0<a rel=\"noreferrer noopener\" href=\"https:\/\/focusgn.com\/asia-pacific\/delta-corp-posts-net-profit-of-us8-35m-for-the-quarter-ended-sept-30\" target=\"_blank\">the company&#8217;s third-quarter net revenue announcement<\/a>\u00a0last week.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Delta Corp received an additional tax shortfall notice, amounting to Rs63.84bn (US$766.8m).<\/p>\n","protected":false},"author":176,"featured_media":17272,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Delta Corp, a prominent Indian casino operator, has been issued an additional tax shortfall notice of US$766.8m, escalating its total tax arrears to over US$2bn. This substantial liability stems from the GST Council's imposition of a 28% indirect tax on gross bet value across online gaming, casinos, and horse racing, a methodology Delta Corp is contesting as it deviates from the industry-standard Gross Gaming Revenue (GGR) basis. The announcement precipitated a 40% decline in Delta Corp's share price, underscoring significant regulatory and financial headwinds for the Indian iGaming sector.","focusai_entities":"Delta Corp, GST Council","focusai_location":"India","focusai_target_profile":"ceo_executive (1.0), regulator (0.9), compliance_legal (1.0), operator_casino (1.0), investor_analyst (1.0), supplier_vendor (0.8), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Impact on Indian iGaming?","query":"What are the broader implications of the GST Council's 28% tax on gross bet value for the long-term viability and growth trajectory of the entire iGaming and casino sector in India?"},{"label":"Delta Corp's legal strategy?","query":"What specific legal arguments is Delta Corp expected to deploy in contesting the tax levy based on gross bet value versus Gross Gaming Revenue (GGR), and what is the probability of a favorable judicial outcome?"}],"footnotes":""},"categories":[163,16334],"tags":[23890],"class_list":["post-777010197","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance-news","category-south-asia-news","tag-delta-corp"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777010197","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=777010197"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777010197\/revisions"}],"predecessor-version":[{"id":777041132,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777010197\/revisions\/777041132"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/17272"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777010197"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777010197"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777010197"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}