an anybody let me know about the taxes after 1st July, 2017 -
I have bought a under construction property in Pune for which partial payment (around 70%) payment has already been made to the builder. Remaining is 30% that will go as per the construction progress.
Few builders including mine are telling consumers that the payment that is made after 1st July 2017 (remaining 30% in my case) would be liable for GST and the difference in the amount based on the current and new tax structure should be paid by the consumer. I have also read a circular from government of India that builders are advised to pass the benefits of input tax credits to buyers under Section 171 of Anti Profiteering Clause of GST law.