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Indiabulls Greens by Indiabulls in Panvel, Mumbai

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Indiabulls Greens by Indiabulls in Panvel, Mumbai

Last updated: 4 weeks ago
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  • Re : Indiabulls Greens by Indiabulls in Panvel, Mumbai

    Originally posted by chinmoy_pan View Post
    Hi everyone, I have just receibved notice to pay Service Tax of 23,408/- on the payments made as of now by 25th July to IB or else 18% interest will be charged. Any one can guide that are we required to pay the service tax as of now. I understand that the matter is pending with Honourable Courts. However IB is quoting that Punjab & Haryana high courts have upheld the levy of Service tax. I would request Babu Mushair to guide on this issue.
    Originally posted by sksingh_pan View Post
    I also received the letter toady. I m not sure wether this Service tax is payable or not as per Govt norms. I would also request for Babu mushaair to throw some light on this service tax payment if it is actually as per courts directive.
    Bombay Hight Court has put a stay on service tax collection on under-construction property. As Indiabulls will not be paying it to tax department now, it is illegal for them to demand it.

    Punjab and Haryana court, while they sell flats in Panvel, do they think all buyers are from Alibaug?? Bottom line is their cash flow is under strain due to minimal new bookings and hence you are seeing them resort to illegal ways. Have no doubts, while it is easy to give them money it will be a pain to get it back, so make sure you fight it out with them.

    It is good that they have sent an official letter demanding the same. You can now take them to consumer court. Please contact on the email forum and the group lawyer will take it ahead and serve them legal notice.
    Last edited by jia001; July 22 2011, 04:13 PM.

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    • Re : Indiabulls Greens by Indiabulls in Panvel, Mumbai

      50 % payment by July end.

      I had warned you guys about it. IB has finally sent letters demanding additional 20 % and within next one week they will send letters for another 10% taking total to 50 %.
      Service tax is peanuts compared to the above.

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      • Re : Indiabulls Greens by Indiabulls in Panvel, Mumbai

        Originally posted by singh_isking View Post
        I had warned you guys about it. IB has finally sent letters demanding additional 20 % and within next one week they will send letters for another 10% taking total to 50 %.
        Service tax is peanuts compared to the above.
        They have shrewdly linked all payments to slabs!! So expect the building skeleton to be ready soon.
        WIll have to visit their site to see if the slabs have already been laid to demand 50%.

        While peanuts (23K for you ), it can still feed many monkeys . Please save the monkeys.

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        • Re : Indiabulls Greens by Indiabulls in Panvel, Mumbai

          Actually I didn't mean that. I said that compared to 30% money that we have to pay, 1.5% service tax is peanuts.
          It will be prudent to check the construction status of the buildings first and then see about payments. Few buildings [sector 3,4,5] have reached 6th floor level. If anyone from our forum visits site, please post few snaps here.

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          • Re : Indiabulls Greens by Indiabulls in Panvel, Mumbai

            i asked for architecht's report and got one saying third slab work has begun..but yes, one certainly needs to go and confirm the same.


            Originally posted by singh_isking View Post
            Actually I didn't mean that. I said that compared to 30% money that we have to pay, 1.5% service tax is peanuts.
            It will be prudent to check the construction status of the buildings first and then see about payments. Few buildings [sector 3,4,5] have reached 6th floor level. If anyone from our forum visits site, please post few snaps here.

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            • Re : Indiabulls Greens by Indiabulls in Panvel, Mumbai

              One photo of Panvel Greens is available at today's Indiabulls-realestate earnings update:

              http://www.indiabulls.com/realestate...ase_june11.pdf



              Originally posted by singh_isking View Post
              Actually I didn't mean that. I said that compared to 30% money that we have to pay, 1.5% service tax is peanuts.
              It will be prudent to check the construction status of the buildings first and then see about payments. Few buildings [sector 3,4,5] have reached 6th floor level. If anyone from our forum visits site, please post few snaps here.

              Comment


              • Re : Indiabulls Greens by Indiabulls in Panvel, Mumbai

                Originally posted by singh_isking View Post
                Actually I didn't mean that. I said that compared to 30% money that we have to pay, 1.5% service tax is peanuts.
                It will be prudent to check the construction status of the buildings first and then see about payments. Few buildings [sector 3,4,5] have reached 6th floor level. If anyone from our forum visits site, please post few snaps here.

                Service Tax is 2.5%+.......!

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                • Re : Indiabulls Greens by Indiabulls in Panvel, Mumbai

                  The picture posted is that of the SRA scheme, however certain towers n sector 3 have reached 3rd slab and above which one saw over a month back.

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                  • Re : Indiabulls Greens by Indiabulls in Panvel, Mumbai

                    Sector 2: 3rd Flore
                    Sector 3 has reached 10th Floor
                    Sector 4 has reached 5th Floor
                    Sector 5 has reached 1st Floor

                    Originally posted by sagi7 View Post
                    The picture posted is that of the SRA scheme, however certain towers n sector 3 have reached 3rd slab and above which one saw over a month back.

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                    • Re : Indiabulls Greens by Indiabulls in Panvel, Mumbai

                      Since they are building it in mivan formwork.the floors are going up veryfast. i think by the year end they would complete all the floors i.e 32 or 37.
                      the payment installment is based that they would take 95% by the time they complete the r.c.c.
                      then most probably they would slow it down after the money has come in.
                      all the builders in bombay are doing the same thing and there is nothing new,this are the risks involved in booking under construction

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