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Delta Corp shares tank 16%. What’s triggering the sharp selloff?
Shares of Delta Corp tumbled 16% after the Supreme Court upheld the governments retrospective 28% GST levy on online gaming companies. The apex court ruled that online gaming platforms qualify as actionable claims under GST law and backed retrospective application of the amendments. Gaming firms had opposed the tax demand, arguing it contradicts decades of legal precedent distinguishing gaming from gambling.
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economictimes.indiatimes.com
SC upholds govt retrospective 28% GST levy on online gaming companies
The Supreme Court has backed the government's retrospective 28% GST on online gaming. The court ruled that online gaming platforms are not intermediaries and their activities are…
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thehindubusinessline.com
Supreme Court backs retrospective 28% GST levy on online gaming firms
The Supreme Court upheld the retrospective 28% GST levy on online gaming firms and ruled that gaming with stakes amounts to betting and gambling.
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newsbytesapp.com
SC upholds retrospective 28% GST on online gaming in India
The Supreme Court has upheld the government's decision to impose a retrospective 28% GST on online gaming companies, impacting past transactions significantly.
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SC ruling on GST levy may squeeze margins, threaten survival of online gaming firms: Tax experts
The Supreme Court’s GST ruling on online gaming firms may trigger consolidation, liquidity stress and major business model changes across the sector.
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SC upholds retrospective 28% GST on online gaming cos
Supreme Court upholds 28% GST on online gaming, affirming states' rights to regulate stake-based games amid industry challenges.
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SC verdict on GST leaves real-money gaming firms staring at a Rs 92,000-crore question - The Economic Times
Wednesday’s ruling, backing tax demands on past transactions, could have major financial implications for the sector. A lawyer representing one of the large gaming companies…
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DGGI set to fire up GST recovery drive against gaming firms after Supreme Court's backing
The Directorate General of GST Intelligence will now aggressively pursue tax recovery from online gaming companies after the Supreme Court upheld a 28% GST levy on the full bet…
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timesofindia.indiatimes.com
Gaming companies face Rs 2.5 lakh crore hit as SC upholds GST
NEW DELHI: In a big setback to online gaming firms facing show-cause notices for GST evasion of around Rs 2.5 lakh crore (with penalty), Supreme Court Wednesday upheld levy of 28%…
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Gaming firms face ₹2.5 lakh crore exposure as Supreme Court upholds 28% GST on betting value
The Supreme Court has made headlines with its ruling, requiring online gaming platforms to pay a hefty 28% GST on the entirety of the bet value. This decision could precipitate a…
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Tax ruling can set off a game of thorns for gaming company directors
India's money gaming firms are worried about directors facing tax demands. A Supreme Court ruling upheld a 28% GST on bets. This could mean personal liability for company board…
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All bets are off as SC’s GST ruling squeezes RMG companies - The Economic Times
The GST demand of Rs 92,000 crore on past transactions will also impact larger players such as Dream11, Junglee Games and Mobile Premier League, which have been pivoting to…
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Delta Corp shares tank 16%. What’s triggering the sharp selloff?
Shares of Delta Corp tumbled 16% after the Supreme Court upheld the governments retrospective 28% GST levy on online gaming companies. The apex court ruled that online gaming…
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Supreme Court GST ruling pushes real-money gaming firms toward survival battle
The Supreme Court's GST ruling imposes financial strain on real-money gaming firms in India, threatening their survival and business models.