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Delta Corp Puts North Goa Integrated Resort on Hold Over GST Uncertainty

Delta cites uncertainty over a potential 40% casino GST under the proposed GST 2.0 framework.

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GST impact: Delta Corp shares tank 7% as casinos, gambling to attract 40% tax
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Overview

  • The Rs 2,000–2,500 crore Dhargal township near Mopa airport will remain paused until the Centre clarifies casino taxation.
  • Reports indicate the government is weighing a 40% GST on casinos, up from the current 28% on bets, and no final rate has been announced.
  • Chairman Jaydev Mody warned a 40% levy would make operations unviable and jeopardise jobs, visitation and revenue.
  • Delta said it retains all requisite approvals for the project, while a PIL related to the development is pending before the Bombay High Court at Goa.
  • Delta Corp shares jumped as much as 11% after the decision surfaced, with the GST Council starting a two-day meeting on Wednesday.