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Metal Scrap Trading Corporation Limited

Panchkula, Haryana

  • Opening Date

    20 Aug 2019

  • Closing Date

    20 Aug 2019

  • Tender Amount

    Refer document

  • EMD

    -

  • Auction Start Date

    20 Aug 2019

  • Auction End Date

    20 Aug 2019

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Summary

Mstc/cdg/btc Itbp/11/bhanu/19-20/14427

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Special Terms & Conditions MSTC has come up with a unique business model to aid and augment financing needs of its bidders by leveraging the bidder surplus Bank Guarantee limit. Under this scheme MSTC will be making the payment to the seller on behalf of the bidder by opening LC/RTGS which will be backed by bidder 110% BG issued by any scheduled commercial Bank (for Rs. 50.00 Lakh and above per Lot). Complete details of the policy and contact officers are available at and at "" NOTE:- 1. As per Notification No.36/2017 Central Tax (Rate) dated 13-10-2017 and Notification No.37/2017 Integrated Tax (Rate) dated 13-10-2017, Principal/Seller being Govt. Unit, so GST and Cess on Goods will be deposited by Buyer under Reverse Charge Mechanism. 2. Principal/Seller has to collect the true copy of GST Certificate from Registered Buyers before delivery of goods to them. (a) The GST as applicable on the date of delivery shall be paid by the successful bidder and the GST and Cess on such goods shall be paid on Reverse charge basis by the registered recipient. (b) The bidders shall be sole bye responsible for remitting the GST as per the DO and any statutory liability in this regard will be the responsibility of the successful bidder and no liability what so ever shall be borne by the seller/MSTC. (c) By bidding in the e-auction, it is constructed that the successful bidder(s) have fully understood the Special terms and condition of the e-auction read along with the GTC & BSTC and agreed the same in toto. 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. Wherever GST Registration Number is not updated. Further the Service Tax Rate on Service Charge Bill, shall be replaced by GST Rate and differential tax, if any, will be required to be paid by Principals / Sellers. PLEASE NOTE: THE AUCTION CATALOGUE ON THE LIVE E AUCTION FLOOR SHOULD BE TREATED AS FINAL AND BINDING. The buyer will not be required to deposit the EMD for those lots which fall under the category of STA. Only when the lot is approved by the Principal, will a mail be fired by our portal to the buyer to submit the requisite EMD within a period of 7 days from the date of approval. 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 MSTC, CHANDIGARH The Helpdesk Ph.033-22901004 Mr. NIKHIL MITTAL Contact: 0172-2587921, 09674550002 Email ID: NOTE: PAYMENT CLAUSE: Incase the date of submission of payment happens to fall on a Public Holiday , the next day shall be considered as the date of submission of payment. NOTE: BUYERS HAVE TO INSPECT THE MATERIAL THOROUGHLY AND SATISFY THEMSELVES ABOUT THE NATURE, HAZARDOUS/EXPLOSIVE PROPERTIES, IF ANY, BEFORE SUBMITTING THE BID. IN CASE THEY COME ACROSS ANY MATERIAL BEYOND THE SCOPE OF THE DESCRIPTION OF MATERIAL, IT SHOULD BE INFORMED TO SELLER/MSTC. MSTC WILL NOT BE RESPONSIBLE FOR ANY COMPLAINT IN THIS REGARD. GENERAL TERMS AND CONDITIONS: THOUGH A FACILITY IS PROVIDED TO BIDDERS TO SELECT A CATEGORY IN THE LIVE AUCTION FLOOR, HOWEVER, BUYERS,IN THEIR OWN INTEREST ARE ADVISED TO GO TO LIVE E AUCTION FLOOR, AFTER SELECTING "ALL CATEGORIES". MSTC WILL NOT BE RESPONSIBLE FOR ANY OVERSIGHT IN SELECTING THE CATEGORY IN LIVE

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