New Delhi, June 1 -- To give relief to home buyers, central and state governments decided in February to cut the rate of Goods and Services Tax (GST) on under-construction houses. From 1 April, these are taxed at an effective rate of 5% and the affordable ones in this category at 1%, compared to the earlier effective rates of 12% and 8% respectively. Effective rate of tax implies the cost of land is excluded from the taxable value of the project. Here are the five things that home buyers should know while buying an under-construction property....