Nazara Tech Rises While Delta Corp Slides On News Of A Likely 28% Gst Online Gaming

Nazara Tech Rises While Delta Corp Slides On News Of A Likely 28% Gst Online Gaming.
Shares of Nazara Technologies are up by 2.03 percent than previous close on the BSE at Rs 603 as investors are cheering temporary respite after the group of ministers (GoM) on GST rates have failed to reach a consensus on the amount to be taxed in the case of online gaming and casinos.
Meanwhile Delta Corp shares are at Rs 222, down 0.9 percent from the previous close on the BSE.
According to sources that reported to news agency PTI, The panel is likely to stick with its earlier recommendation of a 28 per cent levy on these segments, while the final valuation mechanism will be logged on to the court of the GST Council.
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In its earlier report submitted to the Council in June, the Group of Ministers (GoM), led by Meghalaya Chief Minister Conrad Sangma, proposed a 28 percent GST on the entire consideration, including contest entry fees, paid by the player, without distinguishing between skill games and chance games.