Rustomjee azziano I wing

Hello Sidhesh,
I think your builder can give you the better explanation on it. But for your knowledge, i would like to say that earlier, from 1st June till 30th June 2017, 1 per cent VAT has be collected only on payments received and not flat 1 per cent on Agreement value. From 1st July VAT & Service Tax 1 per cent plus 4.5 per cent shall be replaced by GST 12 per cent. Since taxation is increasing by 6.5 per cent the total costing is going to increase after 1st July. The effective tax after set off, tax credit depends on the stage of construction. In short a project in early stages could have better tax benefit while a project at completion stage will have lesser tax benefit. Accordingly developers will decide upon passing on this benefit to the customers. This requires cost estimation & tax evaluation for the construction working pending on site.