Delta Corp Limited has informed the Exchange regarding 'Press Release'.
DELTACORP · price
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Delta Corp Limited received a favorable Supreme Court ruling on GST show cause notices issued for alleged short payment of goods and services tax. The court upheld the company's method of computing GST revenue used since October 2023, and this will apply retrospectively from July 2017 to September 2023. The key benefit is that GST will now be calculated on the amount received from players for chips sold, rather than the gross bet value of all games played, which had previously notionally multiplied the revenue and GST liability. The company noted that the formal order copy is not yet available and will provide updates after review.
This is a positive development for Delta Corp as it significantly reduces potential GST liability by avoiding the much higher tax based on gross bet values. It removes a major uncertainty overhang related to past GST payments for the company and its subsidiaries.