Delta Corp tanks 7% on report of Rs 6,189-cr GST evasion

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Share price of Delta Corp ended nearly 7 percent lower on Friday after news report emerged that DG GST Intelligence has booked two Goa companies, including Delta Corp, for Rs 6,189 crore evasion. Both companies evaded GST by camouflaging a mixed supply of services. The companies paid GST by artificially splitting values of services. GST was paid on net revenue of casino instead of Face Value of bet.

Government is in talks with the companies to recover evaded GST. Speaking to CNBC-TV18, Delta Corp CFO said, “We are in compliance with GST Laws and have not evaded any GST. Delta Corp closed at Rs 213.45, down Rs 16.05, or 6.99 percent. It has touched an intraday high of Rs 233.35 and an intraday low of Rs 202.00.

Read More at: https://www.moneycontrol.com/news/business/markets/delta-corp-tanks-7-on-report-of-rs-6189-cr-gst-evasion-co-denies-allegations-3957801.html