MoneyWorks4Me

NAA finds Indiabulls Real Estate guilty of profiteering over Rs 6.46 crore

28 Jun 2022 Evaluate

The National Anti-profiteering Authority (NAA) has found Indiabulls Real Estate guilty of not passing on over Rs 6.46 crore input tax credit benefits to homebuyers by commensurate reduction in prices post rollout of GST, for the project 'Sierra Vizag' during the period of investigation. The profiteered amount has to be passed on to homebuyers within 3 months.

Indiabulls Real Estate is India's third largest real estate company, with its focus on construction and development of residential, commercial and SEZ projects across major Indian metros.

Peers
Company Name CMP
Lodha Developers 1074.00
Prestige EstatesProj 1395.80
Dilip Buildcon 398.95
DLF 635.00
Oberoi Realty 1677.00
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