[REAL ESTATE NEWS] Good morning, everyone. I’m jihee Hong staff of Kamagroup Pvt. Ltd. Here I have an important Indian real estate news to share with you which is as under mentioned.|
New Delhi: In a first ever order against a real estate firm for failing to pass on the GST reduction benefits to homebuyers, the federal anti-profiteering watchdog has ordered Gurgaon-based Pyramid Infratech to refund over Rs 8.22 crore to 2,476 flat owners within the next three months with 18% interest.
Passing the order on Tuesday, the National Anti-profiteering Authority (NAA) said it will also issue a notice asking the builder why penalty should not be imposed on it for the violation. It has directed the builder to refund or reduce the amount, for every buyer at the time of collecting the last instalment. The authority has also ordered Haryana’s tax commissioner to monitor the compliance and submit a report within four months.
Read more at: https://economictimes.indiatimes.com/wealth/real-estate/watchdog-penalises-builder-for-not-passing-gst-benefit-to-homebuyers/wealth/real-estate/watchdog-penalises-builder-for-not-passing-gst-benefit-to-homebuyers/articleshow/65883044.cms
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