+91 98205 44268 info@mdparmar.in
Govt. Registered MSME Turnkey Interior Enterprise
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Modular Kitchen Modular Bed & Wardrobe Living Room Furniture Office Furniture School Furniture Doors & Frames
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Corporate Retail Store Residence Bank
Manufacturing
Factory Facility Setup & Machines Manufacturing Process
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Financial Transparency

Payment Method & Milestone Policy

Transparent billing guidelines, milestone-linked payment schedules, accepted banking modes, and GST compliance for turnkey contracting projects.

Home Payment Policy

Policy Highlights

Entity: M D Parmar & Associates

Tax Status: GST Registered Enterprise

Transparent Project Financing

To ensure seamless procurement of high-grade raw materials (IS:710 Marine Ply, imported hardware, commercial MEP wiring) and uninterrupted factory manufacturing, M D Parmar & Associates operates on a structured, milestone-linked financial model.

All payments are tied to tangible project stages, ensuring complete accountability and mutual trust throughout the turnkey lifecycle.

1. Accepted Payment Methods

We facilitate all secure corporate and digital banking payment methods:

Electronic Bank Transfers

RTGS, NEFT, IMPS & Direct Corporate Wire Transfers directly to our authorized current account.

Account Payee Cheques

Account Payee Crossed Cheques / Demand Drafts drawn in favor of "M D Parmar & Associates".

Corporate UPI & Digital

Verified Business UPI handles and automated corporate banking gateway links for initial token bookings.

Cash Restriction Notice

We strictly comply with statutory Indian Income Tax guidelines and do not accept cash payments above statutory ceilings.

2. Standard Turnkey Milestone Schedule

Unless otherwise stipulated in a tailored corporate procurement contract, the standard project payment schedule is structured as follows:

Milestone StagePercentageTrigger & Deliverables
Milestone 1: Project Booking & Mobilization 10% Site measurement, AutoCAD layout finalization, 3D design iterations, and BOQ freeze.
Milestone 2: Material Procurement & Civil Start 40% Procurement of BWP plywood, veneers, laminates, and commencement of on-site civil/MEP works.
Milestone 3: Factory Production Sign-Off 30% Completion of CNC sizing, multi-boring, 2mm PUR edge banding at factory prior to site dispatch.
Milestone 4: Site Assembly & Installation 15% Delivery of flat-pack modular furniture on-site, mechanical assembly, and painting touch-ups.
Milestone 5: Final Handover & Snag Clearance 5% Successful snag list clearance, testing & commissioning of MEP/HVAC, and formal key handover.

3. GST Invoicing & Statutory Taxes

All project quotations, BOQs, and intermediate billing reflect prevailing statutory Goods & Services Tax (GST) as mandated by the Government of India:

  • Standard Works Contracts Tax (GST) is applied to all composite turnkey interior contracts.
  • Official Tax Invoices with verified GSTIN numbers are provided to corporate clients for claiming Input Tax Credit (ITC).
  • TDS (Tax Deducted at Source) deductions by corporate entities are acknowledged upon receipt of statutory Form 16A certificates.

4. Milestone Holds & Schedule Adjustments

Because factory dispatch and specialized on-site installation crews are booked strictly according to financial schedules:

  • Delays exceeding 7 working days in clearing intermediate milestone invoices may result in temporary site holds or factory dispatch deferrals.
  • The project completion timeline shall automatically be extended by the duration of any payment clearance delays.

5. Bank Account Verification Advisory

To protect against phishing and financial fraud, clients are strictly advised:

All payments must be made only to the official, verified bank accounts of "M D Parmar & Associates" as printed on our official letterhead invoices. We never request payments into personal savings accounts of site supervisors or individual agents.