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NAA finds Emaar MGF guilty of profiteering

  • Jun 5, 2020 | Divita S Gupta

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.

Avalara helps businesses of all sizes get GST return filing, e-way bill generation and e-invoicing right with cloud-based GST compliance solutions in India. Goods and Services Tax (GST) 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.
Avalara Author
Divita S Gupta
Avalara Author Divita S Gupta
Divita has served as a writer and editor for top financial services organizations in India. She has written on topics like mutual funds, insurance, taxes, SME financing for globally recognized banking and financial organizations including ICICI, Aditya Birla Group, News Corp. With a Masters in Business Administration from Symbiosis International University, she currently owns a small business in Mumbai.

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