{"id":52000,"date":"2022-07-06T15:40:00","date_gmt":"2022-07-06T10:10:00","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=52000"},"modified":"2022-07-06T15:37:17","modified_gmt":"2022-07-06T10:07:17","slug":"rakesh-jhunjhunwala-portfolio-stock-lands-into-trouble-found-guilty-of-profiteering","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/rakesh-jhunjhunwala-portfolio-stock-lands-into-trouble-found-guilty-of-profiteering\/","title":{"rendered":"Rakesh Jhunjhunwala Portfolio stock lands into trouble; found guilty of profiteering"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2130334029\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>The shares of Indiabulls Real Estate declined by 4.24% on Wednesday and by 8.91% in the past seven days. The National Anti-profiteering Authority (NAA) found the company guilty of not passing on over \u20b96.46 crores input tax credit benefits to homebuyers by a commensurate reduction in prices post rollout of GST.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3577060991\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>A buyer filed a case against Indiabulls Real Estate, claiming that the company has not passed on ITC benefits in project Sierra-Vizag, situated in Visakhapatnam. The Directorate General of Anti Profiteering (DGAP) investigated the case and found the builder guilty of profiteering.&nbsp;<\/p><p>The Authority found that the real estate firm benefited from additional ITC post the introduction of Goods and Services Tax between July 1, 2017, and March 31, 2019, and \u20b9 6,46,06,227 should be passed on to the buyers in the project.<\/p><p>In its order dated June 24, the NAA said, &#8220;The amount that has been profiteered by the respondent from the homebuyers in the said project shall be refunded by him, along with interest at the rate of 18 per cent thereon, from the date when the above amount was profiteered by him till the date of such payment.\u201d<\/p><div class=\"trade-content_5\" id=\"trade-1208035032\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>The amount has to be passed on to the home buyers within three months.<\/p><p>Ace Investor Rakesh Jhunjhunwala holds a 1.1% stake in the company as per March 2022 data. The filing related to his holdings as of June 2022 is awaited.<\/p><h4 class=\"wp-block-heading\" id=\"h-disclaimer\"><strong>Disclaimer<\/strong><\/h4><div class=\"wp-block-image\"><figure class=\"aligncenter size-full is-resized\"><img decoding=\"async\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/02\/warning-disclaimer.png\" alt=\"\" class=\"wp-image-26306\" width=\"256\" height=\"256\"\/><\/figure><\/div><p><strong>The content in this news article is not investment advice. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.<\/strong><\/p><div class=\"trade-after-content\" id=\"trade-2077308160\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>The shares of Indiabulls Real Estate declined by 4.24% on Wednesday and by 8.91% in the past seven days. The National Anti-profiteering Authority (NAA) found the company guilty of not passing on over \u20b96.46 crores input tax credit benefits to homebuyers by a commensurate reduction in prices post rollout of GST. A buyer filed a [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":25229,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[31,1789],"tags":[4310,3814,465,654,467,3815,3216,3809,2597],"class_list":["post-52000","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-trending-news","tag-indiabulls-real-estate","tag-rakesh-jhujhunwala-stocks","tag-rakesh-jhunjhunwala","tag-rakesh-jhunjhunwala-latest-news","tag-rakesh-jhunjhunwala-portfolio","tag-rakesh-jhunjhunwala-portfolio-stocks","tag-rakesh-jhunjhunwala-stock","tag-rakesh-jhunjhunwala-stocks","tag-stocks-to-watch"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Rakesh Jhunjhunwala Portfolio stock lands into trouble; found guilty of profiteering - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/rakesh-jhunjhunwala-portfolio-stock-lands-into-trouble-found-guilty-of-profiteering\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Rakesh Jhunjhunwala Portfolio stock lands into trouble; found guilty of profiteering\" \/>\n<meta property=\"og:description\" content=\"The shares of Indiabulls Real Estate declined by 4.24% on Wednesday and by 8.91% in the past seven days. 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