GST demand on First Games cut from Rs 5,712 cr to Rs 704 cr; no Paytm impact
PAYTM · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 0.1 pts more than Nifty Midcap 150 and 0.8 pts more than its Financial Technology (Fintech) peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
Minute windows have no benchmark: there is no intraday index history to compare against.
Paytm subsidiary First Games Technology (FGTPL) received a reduced GST demand of Rs 703.66 crore from CGST Noida, down from the Rs 5,712 crore originally proposed for April 2018 to March 2023. Penalty equal to the tax amount and interest also applies. FGTPL is evaluating next steps. No financial impact on Paytm since FGTPL revenue is not consolidated, its carrying value is already nil, and it exited real-money gaming under the 2025 Online Gaming Act.
Positive relief: proposed demand cut by around 88 percent. Paytm confirms zero financial hit as subsidiary value is already nil.