Delta Corp touches 52-week low on report of GST evasion

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In the previous trading session, the share closed down 7 percent at Rs 213.45.

Share price of Delta Corp touched 52-week low of Rs 185.20, falling 13 percent intraday Monday on the back of news report of GST evasion.

In the previous trading session, the share closed down 7 percent at Rs 213.45.

On May 10, a 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.

However, speaking to CNBC-TV18, Delta Corp CFO said, “We are in compliance with GST Laws and have not evaded any GST.

Source : https://www.moneycontrol.com/news/business/stocks/delta-corp-touches-52-week-low-on-report-of-gst-evasion-3966251.html

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