India, May 24 -- In a major relief for Paytm, the Supreme Court (SC) has stayed INR 5,712 Cr GST notice issued against the listed fintech giant's gaming subsidiary First Games Technology Pvt Ltd.

In a filing with the exchanges, the company said that First Games filed a writ petition against the notice on May 3 and the SC stayed the proceedings on May 23.

"Further proceedings of all the impugned show cause notices shall remain stayed till the final disposal of the main matter along with all the matters which are tagged," the SC order read as per the filing.

The Vijay Shekhar Sharma-led company further reiterated that this is an "industry-wide issue" whereby the GST department has sent notices to several gaming companies including First ...