Delta Corp had a strong outing on Wednesday, climbing over 7% to hit Rs 117.4, thanks to a glimmer of hope for the beleaguered online gaming sector. The Supreme Court’s decision to hear the industry’s grievances over GST show cause notices on January 10 has brought a breath of fresh air to investors. The core issue? A massive Rs 1.12 lakh crore tax demand hanging over the heads of 71 online gaming firms, triggered by notices from the Directorate General of GST Intelligence (DGGI). To make matters worse, penalties could push the total demand to a staggering Rs 2.3 lakh crore. At the heart of the drama is a dispute over whether online gaming companies should have been paying 28% GST or 18% for the period before October 1, 2023. While the government insists the tax rate was always meant to be 28%, the industry argues that the change should only apply from October onward. In August 2023, the GST Council clarified the law, stating that all games involving bets—regardless of whether skill or chance was involved—would face the higher GST rate on the full value of bets placed.