Builders told to pass on GST benefits by CBEC

The Central Board of Excise and Customs on Thursday warned builders to refrain from hoodwinking customers by claiming that the GST rate of 12% that applies to them will be levied on the original cost of the building. The CBEC said that it has received reports that builders are forcing customers to pay the entire cost of the flat before July 1 and pay the current tax rate of 5.5% or pay 12% on any…