GST NAA finds Emaar MGF guilty of profiteering, asks to refund Rs 13.35 crore to 1,239 homebuyers

GST anti-profiteering authority has found real estate firm Emaar MGF guilty of profiteering of Rs 13.35 crore and directed it to return the amount to 1,239 homebuyers with 18 percent interest. The National Anti Profiteering Authority (NAA) has ruled that the realty firm has benefited from additional input tax credit (ITC), which is 11.90 percent of turnover between July 2017 and March 2019. Based…