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 -
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AUCTION NOTICE
No.KIOCL-BFU/MSTC LTD/22-23/02 Dt. 13/05/2022
Subject: Auction Notice for sale of Following materials.
KIOCL Limited Blast Furnace Unit (earlier known as KISCO) intends to offer for
immediate sale following materials as detailed below on terms and conditions
mentioned herein below:
ITEM DESCRIPTION ------------------------------------ Quantity
________________________________________________________________________
SOME IMPORTANT TERMS TO BE NOTED:
1. The sale of materials is on As is where is & No Complaint basis-KIOCLLimited-BFU.
2. Quantity mentioned for the lots are approximate and buyer has to compulsorily
lift the entire material in the lot, subject to availability of a minimum truck
load of 16 MT except for Pig Iron and Small Pig Iron.
3. The successful bidder shall lift the materials within the period as per
clause no. 7 of Special Terms & Conditions.
4. Transportation of the material is to be arranged by the buyer at his cost.
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1. Terms of Sale
a) The bidders should quote for full quantity against each lot. Offers for part
qty would not be accepted.
b) Weighment basis:Weighment in KIOCL-BFU plant is final and binding on both
Buyer and Seller.
c) Price basis: KIOCL Ltd-BFU plant, exclusive of Freight, GST andother Taxes,
if any.
d)Transport & Insurance: Transportation will be the responsibility of the buyer
and Transit Insurance, if any, to be arranged by the Buyer.
2). Delivery : Immediate Sale
3).Pre-Bid EMD :Prebid EMD amounts as mentioned below have to be deposited to
participate against the following lots:
PREBID AMOUNT Rs. 50,000/-
PRE BID EMD NEED TO BE PAID THROUGH THE e-PAYMENT LINK PROVIDED AT THE BUYER'S
HOMEPAGE (AFTER LOGGING IN) IN MSTC's e-COMMERCE SITE. After making the
e-payment the transaction details and Buyer No. have to be intimated through
email to MSTC for verification and subsequent action. AFTER GENERATION OF CHALAN
,MSTC'S INDUSIND ACCOUNT WILL BE GENERATED FOR MAKING THE PAYMENT.Noother mode
of payment will be entertained. The unsuccessful buyer, can raise their refund
request in EMD Refund Request link.
The Pre-Bid EMD deposited by the successful bidder will be adjusted towards
material value, while it will be refunded to unsuccessful bidders after
necessary approval from KIOCL Ltd-BFU. Pre-Bid EMD is liable to be forfeited in
case of failure by the successful bidder to comply with any of the terms of this
Auction Notice.
4) Other Terms:
(a) Presence of non-magnetic materials like slag, mud, dust etc. in the above
lots is un-avoidable and un-intentional. Bidders are requested to inspect the
material and assess the quality & quantity before participating.
(b) The Terms and Conditions will be final and binding on both the Seller and
Buyer.
In case the above terms and conditions of the Auction Notice are acceptable to
you, we request you to give your best offer in the auction held by MSTC on their
internet platform www.mstcauction.com.
Upon receiving the communication from KIOCL Limited-BFU, the successful bidder,
whose offer has been accepted by KIOCL Limited-BFU, shall take further necessary
action in terms of the conditions of this Auction Notice as noted above.
Thanking you,
Yours faithfully,
For KIOCL Limited-BFU,
Sd/-
AGM (Commercial)
Encl.a/a: Special terms and conditions of contract for sale by e-auction
General Terms and Conditions of sale by tender/e-auction.
PLEASE CLICK HERE TO DOWNLOAD THE GENERAL TERMS & CONDITION
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Letter of Interest
1).I/We__________________________________________________, the undersigned
hereby accept the terms and conditions of auction notice
No.______________________Dtd_____________ and also the KIOCL Limited-BFU Special
terms and conditions of sale by E-Auction in its entirety. I/We are enclosing
the same duly signed and stamped in all pages in acceptance thereof.
2). I/We understand that my/our participation in this E-Auction would be
construed as my/our acceptance, after having read and understood, of General
Terms and Conditions of Sale by Tender/E-Auctionof KIOCL Limited-BFU, available
at KIOCL website (www.kioclltd.in/downloads) / Service Providers website.
3). We are providing Pre-Bid EMD of Rs.__________________/- as detailed below.
Bank: _______________ RTGS No.______________ Date._____________
Signature of Authorized Signatory with seal
Date:
Address with contact person and Phone Nos.
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SPECIAL TERMS & CONDITIONS
MOST IMPORTANT: ALL THE BIDDERS INTERESTED TO PARTICIPATE IN THE E-AUCTION
SHOULD HAVE A VALID CLASS-II OR CLASS-III DIGITAL SIGNATURE ISSUED BY THE
COMPETENT AUTHORITY. PLEASE NOTE THAT IT IS MANDATORY FOR EACH BIDDER TO HAVE
DIGITAL SIGNATURE (CLASS II OR CLASS III), OTHER WISE THEY WILL NOT BE ABLE TO
BID SINCE BIDS WILL NOT BE RECORDED WITHOUT DIGITAL SIGNATURE.
NOTE: It may please be noted that the bidders have to quote above the start
price mentioned. The auction is on Subject to Approval basis. Acceptance of H1
bid would be Subject to approval by KIOCL-BFU only.
1.0 Subject to the reserve price, if any, fixed for the materials by the owner
M/s. KIOCL Limited - Blast Furnace Unit having its Registered Office at II
Block, Koramangala, Bangalore - 560 034 (hereinafter referred to as KIOCL Ltd-BFU)
or persons duly authorized in this regard (hereinafter called as Authorities)
and on the terms and conditions hereunder, materials will be sold to the highest
auction bidder on "As is where is and No complaint basis".
1.1 M/s. MSTC Ltd, having its Registered Office at 225-C,Acharya Jagdish Chandra
Bose Road, District- South 24 Parganas, Kolkata-700020 hereinafter referred to
as MSTC LTD or Auctioneer is the Selling Agent to KIOCL Ltd- BFU.
1.2 M/s. KIOCL Limited- BFU reserves its right to accept/reject/cancel any bids
at any stage during or after the auction, without assigning any reasons
whatsoever.
1.3 Special Terms and Conditions will over ride General Terms and Conditions of
Sale by Tender/E-Auction, wherever applicable.
1.4 KIOCL Limited reserves the right to negotiate with H-1 party for a higher
price in case the bids received are below the expected price.
2.0 VALIDITY
The bidder must keep their offers valid for a period of 30 (thirty) calendar
days from the date of closing of the E-Auction which may be extended for any
further period of time as may be mutually agreed upon by KIOCL Ltd-BFU and the
bidder.
3.0 INSPECTION
The bidders are requested to contact the Commercial Department, KIOCL Limited,
Mangalore for Visitors Pass to inspect the materials.
3.1 Inspection of the material will be allowed to the authorized
representatives(s) of the prospective bidders who possess the photo identity
card issued by M/s. MSTC LTD. They can contact JGM (Commercial), KIOCL Limited,
Mangalore - 575 010, between 10am and 5pm on all working days for inspection of
materials.
3.2 The quantity, quality, weight measurement and condition of the items
indicated are approximate. Participation and bidding by anyone in the Auction
shall be treated as conclusive evidence of the fact that the party has inspected
the items offered for sale and satisfied himself in all respects regarding
quantity, quality, measurement, weight and condition etc., of the items and the
principal of Caveat Emptor (let the buyer beware) will apply.
3.3 Quotations received for part quantity under any lot/category shall not be
entertained.
3.4
1. The sale of materials is on As is where is & No Complaint basis-KIOCL
Limited-BFU.
2. Quantity mentioned for the lots are approximate and buyer has to compulsorily
lift the entire material in the lot, subject to availability of a minimum truck
load of 16 MTexcept for Pig Iron and Small Pig Iron.
3. The successful bidder shall lift the materials within the period as per
clause no. 7 of Special Terms & Conditions.
4. Loading and Transportation of the material is to be arranged by the buyer at
his cost.
3.5 SPECIAL NOTE- SUBSEQUENT TO INTRODUCTION OF GST, DEPENDING ON PLACE OF
SUPPLY, THE APPLICABLE GST ON PIG IRON/AUXILIARY MATERIALWILL BE:-
SGST @ 9% and CGST @ 9%ORIGST @ 18%
TDS as per Section 194Q/TCS as per Section 206C(1H) of Income Tax shall be
applicable. Buyers will have to submit declarations as per formats (Format-I or
Format-II as applicable) given below along with TAN of last financial year and
copy of PAN Card.
However, all taxes &cessif any prevailing at the time of lifting of material
will be applicable.
3.6 A single rate, per MT basis (excluding Taxes and cess), has to be quoted by
the bidder for the entire quantity under each category/lot.
3.7 Integrity Pact:
Integrity Pact is a part of tender document for all contract agreements/Purchase
Orders/ transactions worth Rs.30 Lakhs and above( excluding taxes and cess). The
Independent External Monitor (IEM) Sri.Varanasi Udaya Bhaskar appointed by KIOCL
is vested with authority to verify compliance with the agreement between KIOCL
and the tenderer under Integrity Pact.
IEM contact information:
Sri.Varanasi UdayaBhaskar Ex-CMD, Bharat Dynamics Ltd.,
Flat no.101, 1st Floor, Block no.B, Sri BalajiGulmohar Township, Bachpalle, KV
Rangareddy,HYDERABAD - 500090
M:09490796474Email:varudabha@yahoo.co.in
The successful bidder shall enter into an Integrity Pactagreement with KIOCL
Limited-BFU as per the format enclosed.
PLEASE CLICK HERE TO DOWNLOAD THE INTEGRITY PACT
3.8 PRE BID EMD:
A)The live e-Auction will be conducted at www.mstcecommerce.com Interested
parties must deposit lump sum PRE BID EMD of Rs.50,000/-(Rupees Fifty thousand
only) for being allowed to bid for the LOT inthis e-Auction. The PRE BID EMD
must be deposited within office hour of MSTC, oneday before the e-auction,
THROUGH THE e-PAYMENT LINK PROVIDED AT THE BUYER'S HOMEPAGE (AFTER LOGGING IN)
IN MSTC's e-COMMERCE SITE. After making the e-payment the transaction details
along with Buyer No. have to be intimated through email to MSTC for verification
and subsequent action.
B) Only those parties who have deposited the PRE BID EMD within the stipulated
time will be allowed to enter the live e-Auction floor under VIEW ALL AUCTIONfor
participating and bidding in this e-Auction.
C) The full PRE BID EMD will be forfeited if the highest bidder in whose favour
Sale Intimation Letter is issued by e-mail (on Confirmed or Subject to Approval
basis) fails to pay the SECURITY DEPOSIT(as per clause No. 4 mentioned below)
for the lot awarded to them on Confirmed or STA basis. The Password of the Party
whose PRE BID EMD is forfeited will be deactivated and they will be debarred for
stipulated months as deemed fit by MSTC LTD / KIOCL Ltd-BFU.
D) PRE BID EMD will be adjusted towards material value and will not be adjusted
towards the SECURITY DEPOSIT (SD). The PRE BID EMD of the unsuccessful parties
will be refunded after the expiry of the offer validity or earlier at the sole
discretion of MSTC LTD. No interest is payable by MSTC LTD/KIOCL Ltd. on the
PRE- BID EMD /SECURITY DEPOSIT.
4.0SECURITY DEPOSIT(SD): -
The SECURITY DEPOSIT has to be deposited by the Successful Bidder within 7 days
ofcommunication from MSTC LTD by email after close of E-Auction. The bidder
shall pay 10% (Ten Percent) of the full material value (assessable value) in the
form of Demand Draft issued by a Nationalized Bank / Scheduled Bank drawn in
favour of M/s. KIOCL Ltd and payable at Mangalore.
Alternately, payment can be made by way of RTGS/NEFT to the account details
given below:
UNION BANK OF INDIA
KULUR, MANGALURU, DAKSHIN KANNADA - 575003
CURRENT ACCOUNT NO.: 332201010033129, IFSC CODE:UBIN0533220
5.0 DEPOSITING OF AUCTION VALUE:
The successful bidder shall deposit the Auction Value (Assessable Value plus
applicable taxes, duties and any other levies) as indicated below:
5.1 GENERAL & EXCISABLE:
(a)For Auction value up to Rs.2.5 Lakhs --- within 5 calendar days from the date
of issuance of the acceptance letter (excluding the date of issue) by MSTC LTD.
(b) For Auction value above Rs.2.5 Lakhs but less than Rs.20 Lakhs --- within 10
calendar days from the date of issuance of the acceptance (excluding the date of
issue) by MSTC LTD.
(c) For Auction value above Rs.20 Lakhs --- within 15 calendar days from the
date of issuance of the Acceptance letter by MSTC LTD(excluding the date of
issue) in 3 equal installments within the scheduled period of 15 days and in
such cases, the PRE-BID EMD & SD will be adjusted only in the final installment.
(d) In case of (b) and (c) deposits can be made in installments and lifting of
material in parts will be allowed, within the scheduled period of 10/15 days as
the case may be and in such cases, thePRE-BID EMD & SD will be adjusted only in
the final installment.
5.2 DEPOSIT OF PAYMENTS
The above payment shall be made by Demand Draft / Pay Order issued by a
Nationalized / Scheduled Bank favouringKIOCL Limitedpayable at Mangalore
andhanded over in the Commercial Department of M/s.KIOCL Ltd-BFU, Mangalore for
issue of Delivery Order by MSTC.
Alternately, payment can be made by way of RTGS/NEFT to the account details
given below:
UNION BANK OF INDIA
KULUR, MANGALURU, DAKSHIN KANNADA - 575003
CURRENT ACCOUNT NO.: 332201010033129, IFSC CODE:UBIN0533220
The copy of payment advice/challan containing UTR Number may be faxed/mailed.
5.3 Incase, the last day of payment happens to be Closed Holiday for KIOCL /
Banks, the next working day will be taken as the day of payment without late
payment charge if any.
5.4 DELAY IN DEPOSITING SALE VALUE & FORFEITURE
In the event of default in making payment within the specified time schedule and
with extended time, if any, the successful bidder shall pay an additional amount
at 1% (One Percent) per week or part thereof on the balance payment for a
further period of 21 days. Should the successful bidder fail to deposit the
balance payment along with the additional charges within 21 days from the date
of expiry of the time schedule as indicated at Clause-5, with extension thereof,
if any, SECURITY DEPOSITshall be forfeited without any further notice to the
successful bidder.
6.0 GST(IN LIEU OF SALES TAX AND EXCISE DUTY)&OTHER TAXES:
The price quoted by the successful Bidder shall be excluding GST and any other
Taxesand shall be paid extra as prevailingat the time of delivery. In case of
any increase in rate of taxes and duties, the differential amount will have to
be paid before lifting of material.
7.0 DELIVERY SCHEDULE FOR LIFTING OF MATERIAL:
7.1 For all items, the successful bidder shall lift the materials within 30
Calendar days from the date
of issuance of the acceptance letter by MSTC Limited (excluding the date of
issue).
8.0 GROUND RENT:
In case of any default in lifting the materials by the Successful Bidder within
the time limit specified herein above, the un-lifted quantity may be lifted by
making payment of ground rent @ 1% (One Percent) per week or part thereof, the
Sale value of un-lifted quantity for such default beyond the specified period as
stipulated in the delivery order but not later than 5 (Five) weeks from the
expiry of the specified time schedule for lifting the materials without ground
rent.
8.1 In case of goods sold on lot basis, ground rent will be payable @ 1% (One
Percent) per week on the value of the entire lot even if partial quantity is
lifted, whereas in case of goods sold on unit / weight / number basis the ground
rent will be payable only on the value of the un-lifted quantity.
9.0 DELIVERY OF THE MATERIALS:
For taking delivery, Successful Bidders must report by 9.00 AM on working days
in the Commercial Department, KIOCL Ltd-BFU, Mangalore. In case the last date
for delivery happens to be a Closed Holiday for KIOCL Ltd-BFU, the next working
day will be taken as the last date for lifting without any Ground Rent.
Successful Bidders must produce the delivery order issued by MSTC LTD at the
time of taking delivery of the materials.
The Vehicles engaged by the Successful Bidder to take delivery of the materials
must carry all relevant and valid documents such as RC books, Insurance Cover,
Driver's License, and Emission Certificate etc., issued by the concerned
authorities. In the absence of the same, permission for entry of vehicles may
not be allowed.
Successful Bidders are advised in their own interest to inform in advance before
placement of vehicles for taking delivery of the materials. The Successful
Bidder at his own cost may make his own arrangement for removal, dismantling,
loading, transporting and he will not be entitled to claim any facility or
assistance or cost on this account from KIOCL Ltd-BFU / MSTC.
10.0 FAILURE TO LIFT MATERIAL:
In the event sufficient quantity of material is not available for lifting, KIOCL
Ltd-BFU shall refund on "pro-rata basis" the value of such shortage in quantity.
No claim shall be entertained by KIOCL Ltd-BFU by way of loss or profit, damage
or interest etc.
10.1 In case, after making full payment for entire quantity, the Successful
Bidder fails to take delivery of the material within the stipulated period with
extension thereof, if any for the whole or part of the materials, then 15% of
the Sale value of the un-lifted quantity along with the ground rent @ 1% per
week or part thereof will be forfeited. Refund, if any, for the balance amount
on this account will be made based on the written request of the Successful
Bidder within a period of 6 (Six) months from the date of E-Auction.
After expiry of the delivery period with extension thereof, if any, KIOCL Ltd-BFU
will have the fullest liberty and right to dispose of such goods in any manner
as it deems fit and the Successful Bidder will not have any right what so ever
in this regard for any compensation, loss etc.
11.0 AUTHORISATION TO COLLECT MATERIALS:
The authorized representative of the Successful Bidder for collection of
materials should have a Power of Attorney in his favour duly notarized and his
signature duly attested. The Power of Attorney should be executed on the
prescribed document paper of Rs.100/- or as prescribed from time to time. Such
authorization should not be revoked under any circumstances without written
consent of KIOCL Ltd-BFU.
11.1 The segregation material is not allowed within the premises of KIOCL Ltd-BFU.
Breaking / cutting is also not allowed except under special circumstances and
should have written permission of KIOCL Ltd-BFU. Items like Battery, Used Oil
etc., are to be handled carefully and decanting, spillages are not allowed
within the premises of KIOCL Ltd-BFU.
11.2 Weighment recorded at KIOCL Ltd-BFU weighbridge shall be final.
12.0 Since the transportation of material is Buyers responsibility, filing and
generation of E-Way Bill prior to commencement of movement of goods will be the
responsibility of Buyer or his Authorized Transporter.
The Buyers Authorized transporter shall compulsorily submit a copy of LR before
taking the delivery of material towards proof of receipt of material.
KIOCL-BFU will not be liable for any penal action arising out of non-generation
of E-way bill/wrong entry/misdeclaration in E-Way Bill.
13.0 ACCIDENTS ETC., TO THE TENDERER / BIDDER / LABOURER
13.1 If any damage or loss is caused to the employees or the property of KIOCL
Ltd-BFU or if any claims are made by KIOCL Ltd-BFU while lifting the materials
and by reason of any acts of commissions or negligence on the part of the
Successful Bidder or on the part of their agents, representatives or employees,
KIOCL Ltd-BFU shall be entitled to recover all such losses damages as may be
ascertained by KIOCL Ltd-BFU and the same shall be final & binding on the
Successful Bidder. Such amount will be recovered from any pending amount of the
Successful Bidder without prejudice to KIOCL Ltd-BFU's right to take further
action under the contract as well as recover such losses, damages or claim any
other money due to under any other transaction with KIOCL Ltd-BFU or from the
Successful Bidder directly.
13.2 KIOCL Ltd-BFU / MSTC will not be responsible for any injuries caused due to
accidents within factory premises or at the place of work of the owner either to
the Successful Bidder or his representatives / Labourer etc., and the Successful
Bidder will make proper arrangements for any claim arising out of the employment
under statute. It is the responsibility of the Successful Bidder to provide
necessary safety appliances (like Hand gloves / safety shoes etc.) to the
labourers, who are engaged for taking delivery of the materials. It will be the
responsibility of the Successful Bidder taking delivery to employ such labourers,
who are familiar to undertake such jobs without causing any damage to themselves
or to the material and providing safety appliances. The Successful Bidder shall
also take necessary insurance cover for those employed for
breaking/lifting/screening/loading the materials as required, at their own cost.
Copy of insurance cover must be submitted to Commercial dept., BFU before
lifting of material.
13.3KIOCL Ltd-BFU / MSTC LTD will not be liable for any claim and Successful
Bidder shall keep KIOCL Ltd-BFU / MSTC LTD fully indemnified and harmless
against any claim proceedings on their own or against the employees or others.
14.0 SETTLEMENT OF DISPUTES
A. If any time any question, disputes or difference of whatsoever nature shall
arise between KIOCL Ltd-BFU and the Successful Bidder upon or in relation to or
in connection with the contract, either party may, forthwith give to the other
notice in writing of such existence of question, dispute or difference and the
same other than the questions, disputes or differences for the decision of which
specific provisions have been made in the foregoing Articles of these conditions
herein after referred to as "Excepted Matter" and the decision of such "Excepted
Matters" according to the said provisions shall be final and binding on the
parties shall be referred to Arbitration by a sole Arbitrator to be appointed by
KIOCL Ltd-BFU Chairman or any person acting in such capacity.
B. When the sole Arbitrator withdraws from his office for any reason or
otherwise the Arbitrator is substituted, the Arbitral Proceedings shall continue
from that stage onwards and the earlier hearings shall not be repeated.
C. The language to be used in the Arbitration Proceedings shall be English.
D. The award of the Arbitration shall be final, conclusive and binding on the
parties.
E. The provisions of Arbitration and Conciliation Act 1996, and the Rules there
under and any statutory modification thereof from time to time in force shall in
applicable to this contract.
F. The venue of Arbitral proceedings shall be only in Bangalore, India.
G. Only Courts in Bangalore shall have jurisdiction regarding the matters
relating to the Arbitration.
FORMAT-I
(ON COMPANY LETTER HEAD)
Declaration for applicability of deduction of tax at source (TDS) on purchase of
goods u/s 194Q
We,M/s. << Business Name>>, hereby confirm that our total sales / gross receipts
/ turnover from our business exceeded Rs.10 crores, during the FY 2020-21.
Accordingly, we qualify as buyer for the purpose of section 194Q of the Income
TaxAct.
Weconfirmthat,TDSaspertheprovisionsofsection194QisapplicableonourpurchasesofIron
ore Pellets/Pig ironproductsexceedingRs.50 lakhs from KIOCL LIMITED. (PAN
AAACK8438M) during FY 2021-22. We also confirm that we will be deducting the
applicable TDS @ 0.1% under section 194Q while remitting payment to the account
of KIOCL LIMITED.
Our customer identification details for transacting with KIOCL LIMITED are
submitted in theAnnexure.
We are aware that as per the provisions under section 206C (1H), TCS is not
collectible by KIOCL LIMITED on above sales of Iron ore pellets/Pig iron
products to us, where TDS under section 194Q is applicable and has been deducted
by us ( i.e buyer). We are alsoawarethat, KIOCL
LIMITED,relyingoursubjectdeclaration,willnotbecollectingTCSundersection206C(1H)on
sales to us exceeding Rs.50 lakhs during FY2021-22.
We hereby undertake to indemnify KIOCL LIMITED against any liabilities
(comprising of tax amount and interest /
penaltyifany)arisingonaccountanynon-complianceonourpartbywayofnon-deductionofTDSaspertheapplicableprovisions
of section 194Q resulting in consequential non-collection of TCS under section
206C(1H) on the part of KIOCL LIMITED.
We hereby also undertake to refund, with interest, any amount credited by KIOCL
LIMITED to our account, in giving effect to the TDS under section 194Q which we
have hereby declared that we will be deducting on our purchases, in the event of
any aforesaid non-compliance on our part by way of non-deduction of TDS/ non
remittance of TDS deducted to Govt. as per the applicable provisions of section
194Q.
Verification
I, , son/daughter of Shri
in the capacity of__________ ofM/s.________
solemnlydeclarethattothebestofmyknowledgeandbelief,the information given in this
declaration is correct and complete and particulars shown therein aretrue.
I hereby declare that I am duly authorized to submit and sign the declaration.
Place
Date
(AuthorizedSignatory)
Signature & Seal
FORMAT-II
(ON COMPANY LETTER HEAD)
Declaration for non-applicability of deduction of tax at source (TDS) on
purchase of goods u/s 194Q
We,M/s. << Business Name>>, hereby confirm that our total sales / gross receipts
/
turnoverfromourbusinesshasnotexceededRs.10crores,duringtheFY2020-21.Accordingly,wedonotqualifyasbuyerforthe
purpose of section 194Q of the Income TaxAct.
We confirm that, TDS as per the provisions of section 194Q is not applicable on
our purchases of Iron ore Pellets/Pig iron products exceeding Rs.50 lakhs from
KIOCL LIMITED (PAN AAACK8438M) during FY 2021-22. We also confirm that we will
not be deducting the applicable TDS @ 0.1% under section 194Q while remitting
payment to the account of KIOCL LIMITED.
Our customer identification details for transacting with KIOCL LIMITED are
provided in the Annexure
We are aware that as per the provisions under section 206C (1H), TCS is
collectible by KIOCL LIMITED on above sales ofIron ore Pellets/Pig
ironproductstous,whereTDSundersection194Qisnotapplicableandhasnotbeendeductedbyus(i.ebuyer).Weare
also aware that, KIOCL LIMITED, relying our subject declaration, will be
collecting TCS under section 206C (1H) on sales to us exceeding Rs.50 lakhs
during FY2021-22.
Verification
I, , son/daughter of Shri in the capacityof
of M/s. solemnly declare that to the best of my knowledge and belief, the
information given in this declaration is correct and complete and particulars
shown therein aretrue.
I hereby declare that I am duly authorized to submit and sign the declaration.
Place
Date (Authorized Signatory)
Signature & Seal
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