 "homebuyers")
Real estate major Emaar MGF has been directed by the anti-profiteering watchdog to pass on the profiteered amount of Rs 13 crore, with interest, to over 1,200 flat buyers of its Gurugram project.
The National Anti-Profiteering Authority (NAA) has held that Emaar MGF did not pass on the benefit of input tax credit to buyers, in a Thursday order.
“The respondent has denied benefit of input tax credit (ITC) to buyers of the flats being constructed by him in contravention of the provisions, and thus resorted to profiteering,” the authority said in its March 15 order. The matter involves a
