NAA finds Emaar MGF guilty of profiteering

NAA finds Emaar MGF guilty of profiteering

Divita Gupta Divita Gupta Jun 4, 2020

The National Anti Profiteering Authority has ruled that real estate firm Emaar MGF is guilty of profiteering of ₹13.35 crore and directed it to return the amount to 1,239 homebuyers with 18% interest. This ruling is based on a complaint filed by a home buyer in Emerald Floor Premier project by Emaar and an investigation report of Directorate General of Anti Profiteering. The NAA also asked the realty firm to reduce the prices of flats at Emerald Floors Premier commensurate with the benefit of ITC received.

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Sales tax rates, rules, and regulations change frequently. Although we hope you'll find this information helpful, this blog is for informational purposes only and does not provide legal or tax advice.
Divita Gupta
Divita Gupta Avalara Author
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