The Delhi High Court has given interim relief to real estate developer Pyramid Infrastructure, which had been fined for profiteering under the goods and services tax (GST), offering hope to other companies that have come under the National Anti profiteering Authority (NAA) scanner. In a writ petition filed with the court last month, the company had raised questions on the methodology used by the NAA to calculate the fine.
It had also claimed that the lack of clarity on anti-profiteering had led to violation of basic rights such as freedom of speech and equality. Anti-profiteering is a mechanism to ensure that companies pass on the benefits derived from GST to customers. If NAA discovers that this hasn’t been done, it can fine the errant companies.