Builders facing tough choice in GST rates for ongoing realty projects

Builders and home buyers are trying to understand the best deal for them under the new Goods and Services Tax (GST) rates for ongoing projects and it seems to be turning into a double-edged sword for some. Real estate developers have time until May 10 to decide on whether to stick to the old 12 (residential) or 8 per cent (affordable housing) rate with input tax credit or the new 5 per cent (resid…