Online gaming firm Delta Corp on Tuesday said the GST demand worth over Rs 23,200 crore is arbitrary and contrary to provisions of law and hence it has not made any provisions towards the same. The company, which is also a casino operator, reported a 59 per cent yearon-year decline in its consolidated net profit for the quarter ended December 2023 at Rs 34.48 crore. The income from operations stood at Rs 181.54 crore, 18 per cent lower than the year-ago period. “Holding company/ subsidiary companies have filed writ petitions and have obtained stay orders from respective High Courts. The companies will pursue all the legal remedies available to them to challenge such tax demands and the related proceedings, it informed.

Source: Economic Times January 10, 2024 05:02 UTC