India`s Delta Corp falls to near three-year low on second tax blow in two months
![](https://portfolio.investmentguruindia.com/uploads/news/Delta Crop 1.jpg)
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
Shares of India's Delta Corp fell to a near three-year low on Monday, after the casino operator said its unit received an additional tax shortfall notice to pay 63.84 billion rupees ($766.8 million).
This compares to the company's third-quarter net revenue of 2.71 billion that it reported last week and a notice to pay tax arrears of 111.40 billion rupees last month.
Delta shares fell 10% to their lowest since November 2020 following the news, after the company lost roughly 40% of its market share this year.
In July, the country's Goods and Services Tax (GST) council decided to impose a 28% indirect tax on money collected by gaming companies.
While global investors have urged Indian Prime Minister Narendra Modi to review the 28% gaming tax, citing a setback to prospective investments of about $4 billion, the country's revenue secretary had said there was no need to rethink the tax.
![](https://portfolio.investmentguruindia.com/uploads/news/Ipca Laboratories Ltd.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/narendramode37.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Muthoot Finance ltd.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/hiroshiyoshida.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Skills Revolution1231.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/cummins.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/investment37.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Tata Steel Ltd.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Tarun Chugh, MD & CEO, Bajaj Allianz Life.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/car37.jpg)