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Sikkim High Court Allows Interim Stay Over $76M Tax Demand For Delta Companies

Delta Corporation, India’s only publicly traded hospitality and gaming company that owns and manages hotels and casinos, says the Sikkim High Court has granted an interim stay in response to a notice of GST demands received from the Director of GST Intelligence in Hyderabad in connection with paying Rs 628 crore, $75.5 million due for work at Deltin Denjong Casino outside Sikkim, according to a charge conducted on October 22.

GST request notification is just one of similar after-tax requirements: 온라인경마

The exact words the company mentioned during the filing process were, according to the Inside Asian Games, “In accordance with the company’s written submission to the Sikkim High Court challenging the above request, the Sikkim High Court has ordered the status quo in respect of the demand until the next hearing date of October 20, 2023.”

However, the above-mentioned GST requirement notice is only one of the applicable demands of several government agencies, the final amount of which is over Rs 23,200 crore, which is approximately $2.8 billion. Simply put, the company’s market capitalization now stands at nearly $420 million.

In addition, we received a notice on October 11 that among the above mentioned demands, we are estimated to be insufficient GST payments for Rs 16,823 crore equivalent to approximately $2.02 billion during the period from July 1, 2017 to March 31, 2022. In addition, exactly three days later, one more request was received from Kolkata GST Intelligence General of GST Intelligence relating to payment of Rs 6,384, equivalent to approximately $768 million.

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