Finmin warns builders of 'profiteering'; Reduced tax incidence should lower flat price / installments

  Ministry of Finance issues clarification in light of apprehensions of buyers of under construction flats, complex that they may face higher incidence of tax at 12% on payments made after July 1, 2017; States that construction of flats, complex, buildings will have lower tax incidence of GST compared to plethora of central and state indirect taxes suffered by them under existing regime; Explains that customer is only looking at visible headline rates viz. service tax a...