Delta Corp Limited has filed a regulatory disclosure pursuant to Regulation 30 of SEBI LODR and SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.

The disclosure provides an update on GST orders concerning the company and its subsidiaries, Highstreet Cruises and Entertainment Private Limited (HCEPL) and Delta Pleasure Cruise Company Private Limited (DPCCPL).

Nature of the Event

Pursuant to applications filed by the company and its subsidiaries, rectification orders dated October 28, 2026, have been passed by the Additional Commissioner, Central GST, Goa Commissionerate. These orders rectify the quantification of a differential GST demand originally issued on September 25, 2026, under Section 161 of the CGST Act.

The rectification pertains to the calculation of GST on mixed supply (casino-entry packages) for the period from July 2017 to March 2022. The Authority held that the differential GST must be computed on a cum-tax basis (consistent with the original show cause notice), after giving credit for GST already discharged. The application of the rate on an ex-tax basis in the original orders was deemed an error apparent on the face of the record.

Key Quantitative Figures

Differential GST Demand Reduction:

  • Delta Corp Limited: Original demand of ₹27.57 crore reduced to ₹21.54 crore, a reduction of ₹6.03 crore.
  • HCEPL: Original demand of ₹8.57 crore reduced to ₹6.70 crore, a reduction of ₹1.87 crore.
  • DPCCPL: Original demand of ₹96.58 lakh reduced to ₹75.45 lakh, a reduction of ₹21.12 lakh.
  • Total Aggregate: Original total demand of ₹37.11 crore reduced to ₹28.99 crore, a total reduction of ₹8.12 crore.

Penalty Amounts:

The penalty amounts under Section 74 of the CGST Act for the shortfall of tax payment have been reduced proportionally to the new tax demands:

  • Delta Corp Limited: ₹21.54 crore
  • HCEPL: ₹6.70 crore
  • DPCCPL: ₹75.45 lakh
  • Total Aggregate Penalty: ₹28.99 crore

Other Implications

  • The interest liability on the unpaid differential GST remains unchanged at 18% per annum, levied from the due date for payment until the amount is paid.
  • Save for the above rectification, all other findings and directions contained in the original orders dated September 25, 2026, remain unchanged.

Stated Rationale and Next Steps

The company states it is evaluating the rectification orders and may take appropriate steps, including filing an appeal before the appropriate appellate authority within the prescribed timeline.