GST may raise price of flats nearing completion

 If you are paying for your house in installments to the builder you may end up paying 12% GST on payments due from July 1 onwards, instead of 4.5% service tax that you paid on installments till June 30. Similarly, if you plan to buy a house after July 1 in a project that is complete or nearing completion, you will have to pay tax at the rate of 12% on the entire amount. Builders claim that t…