Tag: Under Construction

GST Tax Rate – Under Construction Flats & Complexes

Several complaints have been received by the various authorities  in view of works contract rate under GST  being 12% in respect of the under-construction flats, complexes etc,. People who have booked the flats and made the part payment are asked to pay the full amount before 1st of Jul’17 or to face higher tax incidence for payments made after 1st Jul’17, which is against the GST Law, which is deemed to be profiteering U/s 171 of the GST Law.