EMAAR MGF guilty of profiteering of Rs. 19 crores: NAA

Sh. Puneet Bansal Vs Emaar MGF Land Ltd. (National Anti-Profiteering Authority) It is established from the perusal of the above facts that the Respondent has benefited from the additional ITC to the extent of 8.73% of the turnover during the period from July, 2017 to March, 2019 and hence the provisions of Section 171 of the CGST Act, 2017 have been contravened by the Respondent as he has not passed on the above benefit to his customers and thus he has profiteered an amount of Rs. 19,23,01,682!- inclusive of GST @ 12% on the base profiteered amount of Rs. 17,16,97,930/-. Further, the Responden...