Delta Corp fell 2.43% to Rs 53.74 after the company, along with its subsidiary Highstreet Cruises and Entertainment, received tax notices aggregating to Rs 1,752.38 crore for FY23 over the alleged short payment of Goods and Services Tax (GST).
According to an exchange filing, Delta Corp has received a notice amounting to Rs 1,350.25 crore, while its subsidiary has received a notice of Rs 402.12 crore from the Office of the Commissioner of Commercial Taxes, Government of Goa, dated 17 March 2026.
The alleged GST shortfall is based, inter alia, on the estimated gross bet value of all games played at the casinos during the relevant period. The levy of GST on gross bet value, instead of gross gaming revenue, has been a long-standing industry issue, with multiple representations made to the government.
The company and its subsidiary have challenged earlier similar demands relating to the period from July 2017 to March 2022. The Hon’ble Supreme Court of India has stayed further proceedings of all the impugned notices for the period from July 2017 to March 2022 until the final disposal of the petitions before it.
Delta Corp stated that, based on legal advice, the current notices and tax demands are arbitrary and contrary to law. The company added that it will pursue all available legal remedies to challenge the demands and related proceedings.
Delta Corp is the only listed company engaged in the casino (live, electronic, and online) gaming industry in India. The company is engaged in diversified segments like casino gaming, online gaming, hospitality, and real estate.
The company reported a consolidated net profit of Rs 14.28 crore in Q3 FY26, down 60% as against Rs 35.73 crore in Q3 FY25. Total income declined 14.2% year-on-year to Rs 160.28 crore for the quarter ended 31 December 2025.
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