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Metal Scrap Trading Corporation Limited

  • Opening Date

    13 Aug 2019

  • Closing Date

    13 Aug 2019

  • Tender Amount

    Refer document

  • EMD

    -

  • Auction Start Date

    13 Aug 2019

  • Auction End Date

    13 Aug 2019

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Summary

Mstc/vad/icgs Gandhinagar/2/near Gh4 Circle/19-20/14358

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Special Terms & Conditions ALL CONTRACTS/TRANSACTIONS ENTERED INTO BY THE BUYER/BIDDER ARISING OUT OF THIS E-AUCTION SHALL BE GOVERNED BY THE INTEGRITY PACT AVAILABLE ON OUR WEBSITE, www.mstcindia.co.in The e-Auction shall be conducted under REVERSE CHARGE MECHANISM. Kindly Read the below mentioned terms and conditions carefully before participating in the e-Auction. As per the latest notifications- Notification No. 36 /2017-Central Tax (Rate) and Notification No. 37 /2017- Integrated Tax (Rate) both dated 13/10/2017 issued by Department of Revenue, Ministry of Finance, Government of India available in CBEC website notifications section; e-Auction of scrap/used materials is allowed by Reverse Charge Mechanism. Under Reverse Charge Mechanism, GST rates displayed, if any are purely indicative and GST rate assessment, timely submission of GST, issuing of Purchase Tax Invoice & filing of proper GST returns is completely the liability of the buyer and no liability in this regard shall be taken by Seller/MSTC at any point of time. Under Reverse Charge Mechanism, the Buyer bears the responsibility to submit the requisite GST mentioned in the Sale Order / Delivery Order to the relevant GST authorities and get GST Challan against the same. Buyer also needs to generate the GST Invoice to submit it to the Seller before taking Actual Delivery. Buyer has to file required GST Returns accordingly. Buyer shall make payment of only the Basic Material Value + TCS (if applicable) to MSTC for onward submission to Seller with D.O. Under Reverse Charge Mechanism it is the sole responsibility of the Seller to collect the following documents before allowing Delivery: a) True Copy of GST Registration Certificate of the Buyer, self certified by the buyer. b) GST submission challan for the value of GST as shown liable in the Sale Order / Delivery Order. c) GST Invoice from the buyer showing proper description of material, rate, taxes, value, GST TIN of the buyer, properly sealed and signed by the buyer. Kindly note that in case of any irregularity in the submission or filing of taxes/returns by the buyer, the dispute has to be resolved between the Seller and the Buyer and MSTC Limited shall in no way be held liable/responsible for the same. DD/PO DRAWN ON CO-OPERATIVE BANKS SHALL NOT BE ACCEPTED. NO ARRANGEMENT INSTRUMENT WHERE MORE THAN ONE BANK IS INVOLVED WILL BE ACCEPTED. "The buyers have to make payment by RTGS/NEFT from their own account only. No third party payment shall be accepted." GST Clause The Goods & Service Tax (GST) is implemented with effect from 01st July 2017 in India. Accordingly, VAT / Sales Tax will be discontinued and these taxes will be subsumed to GST. GST will be payable on all goods (whether scrap or otherwise). Hence all Buyers / Bidders having VAT Registration (TIN) need to register with GST for continuing transactions. Copy of certificate mentioning GST Registration Number needs to be submitted with the respective office of MSTC Ltd. (from where Registration was done) for updating Buyer Registration details. MSTC / Seller will not be able to issue any Sale Order / Delivery Order / Invoice, etc. wherever GST Registration Number is not updated. Further the existing VAT / Sale Tax Rate shall be replaced by GST Rate and differential tax, if any, will be paid by or refunded to Buyers. SPECIAL TERMS AND CONDITION This supercedes the General Terms and conditions. 1. Definitions: The term MSTC means the selling agents of stockholder and when the context so admits their successors and assignee and any officers acting for them. The stockholder means the commandant of concerned depot for the time being and when the context so admits any office/member acting for him. The buyer means the person, firm or company with whom MSTC/Stockholder concludes the contract for the e-auction, and where the context so permits, includes his person or representative(s) and permitted assignees. 2. Condit

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