NAA: Directs Emaar MGF to reduce flat prices commensurate to additional ITC received post GST

NAA upholds profiteering allegation against the Emaar MGF (Respondent) being a real estate developer in its project ‘Emerald Floors Premier' to the tune of Rs. 13 crores (approx); Elucidates that computation of commensurate reduction in prices as well as computation of profiteered amount is a mathematical exercise and hence no set of procedure/methodology/ guidelines can be framed; Remarks “Respondent is trying to mislead by wrongly claiming that it was required to c...