Don't force flat buyers to pay entire amount before July 1: Tax dept

Or else, it would be taken as profiteering

The indirect tax department has warned builders against asking flat buyers to face higher tax rates if they don't pay the entire amount of houses before July one due to the proposed goods and services tax (GST).

The Central Board of Excise and Customs (CBEC) said if any builder resorts to such practice, the same can be deemed to be profiteering under the of GST law. The GST Council is yet to frame rules on anti-profiteering and this issue could be taken at the meeting on Sunday.

The Board said states have received several complaints that in view of the works contract