Metal Scrap Trading Corporation Limited

Special Terms & Conditions This supersedes General and Buyer specific terms and conditions ONLY THOSE BIDDERS WHO ARE REGISTERED WITH GST AUTHORITY AND HAVING VALID GST REGN NO.SHOULD PARTICIPATE IN THIS AUCTION. Successful bidders have to make sure that their GST no. is updated in MSTC's record. If it is not updated, the same has to be made updated by giving relevant document to MSTC for neccesary action. 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, GST AND CESS ON GOODS WILL BE DEPOSITED BY BUYER UNDER REVERSE CHARGE MECHANISM. IT IS THE RESPONSIBILITY OF THE BUYER TO SUBMIT COPY OF GST PAYMENT RECEIPT AND TRUE COPY OF GST CERTIFICATE TO THE PRINCIPAL BEFORE TAKING DELIVERY. SELLER HAS TO ENSURE COLLECTION OF COPY OF CHALLAN AND TRUE COPY OF GST CERTIFICATE FROM THE REGISTERED BUYERS BEFORE GIVING 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 construed that the successful bidder(s) have fully understood the Special terms and conditions 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. GST will be payable on all goods (whether scrap or otherwise). DD/POs of any Bank shall not be accepted and will be returned without any action being taken on them. Arrangement instruments (where more than one bank is involved) shall not be accepted and shall be returned without any action being taken on them. Contact Person at MSTC : Mr. Keshav Arora, Asst. Manager(M.T) Phone No. 0674-2544199/9830430434 Email id: karora@mstcindia.co.in MSTC Ltd. Shall hereinafter be referred to as MSTC and COAST GUARD Store Depot (PARADIP)/ as owner/seller for lots. 1.All the offers shall be valid for a period of 90 days from the date of closing of e- auction. 2. The materials offered for sale must be inspected prior to due date of e-auction. For inspection & other related matters, bidders may contact Coast guard Store Depot (Paradip) :- COMMANDANT USHA GAUR ON 06722220240/ The interested parties may visit to inspect the stores on any working days i.e. Monday to Friday, (Except Govt. Holidays). 3.Material list & STC displayed under view forthcoming auctions on MSTC's e-auction website are tentative and subject to change at the sole discretion of MSTC/Principal before the start of e-auction. Bidders should, therefore, download the material list and STC displayed only under view live auctions for their record purpose, if required, and bid accordingly. 4. The bidders shall submit Earnest Money Deposit by NEFT/RTGS in favor of MSTC LTD using e-payment gateway available in bidders login page, as stated in Sale Intimation Letter within 7 days from date of e-auction for accepted lots. The EMD shall be @20% of the net sale Value quoted (excluding taxes &duties) for Lots sold on Accepted. Upon issue of the sale order the EMD shall automatically be converted into Security Deposit. The Security Deposit as specified in Sale Order shall be adjusted only at the time of final payment. It should be noted that failure to submit post bid EMD / SD within above stipulated time will result in automatic deactivation of buyer's login from MSTC System for a minimum period of six (06) months. Thus the bidders shall be debarred from participation in any auction being conducted by MSTC for a minimum period of six (6) months. If the SD/EMD amount is received after 7 days. Then the deactivated buyer id wi