Special Terms & Conditions
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
The Helpdesk Ph.033-22901004
Dealing Officer: Mr. NIKHIL MITTAL
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.
Highest bidders are advised to deposit DD for accepted lots only (not for STA lots).
DDs of Cooperative Bank shall not be accepted and will be returned without any action being taken on them.
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 E
AUCTION/LOT ON THE PART OF BIDDERS/BUYERS"
(a) Where goods are sold in lots and not by number of units, in the event of the lot or lots being found to be deficient in quantity, size, measurement, number and weight, as state
Disclaimer:BidAssist has made every reasonable effort to ensure that the information is accurate and authentic however it cannot be held liable for any third-party claims or losses of any damages. BidAssist makes no warranty, expressed or implied, as to the results obtained from the use of the information. If you think you may have noticed any error or omission, please let us know by contacting email@example.com.