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4) PAYMENT OF BALANCE SALE VALUE WITH TAXES AND DUTIES : 4.1.

Balance Payment for existing quantity along with Sales Tax/VAT, income tax as applicable at the time of lifting will be required to be made within 21 (Twenty one) days from the date of Confirmation of the bid. 72.191% of material value should be made preferably by transferring the amount through RTGS and/or in the form of Demand Draft / Pay Order in favour of INDIA GOVERNMENT MINT , KOLKATA, A UNIT OF SPMCIL AND PAYABLE AT KOLKATA and 2.5% of material value plus service tax @ 12.36% thereon i.e. total 2.809% of material value is to be made preferably by transferring the amount through RTGS and/or in favour of MSTC LTd payable at Kolkata. The Demand Draft/Pay Order must be deposited at any office of M/s. MSTC Ltd., for issue of Delivery Order. Demand Draft /Pay Order issued by any Co-operative Bank will not be accepted. 4.2

The Buyer shall make the balance payment related to this e-Auction in Electronic Mode (NEFT/RTGS) in favour of 'INDIA GOVERNMENT MINT , KOLKATA, A UNIT OF SPMCIL AND PAYABLE AT KOLKATA as per the following details
NAME OF BANK BANK ADDRESS ACCOUNT NO RTGS CODE/IFSC CODE MICR CODE 4.2.1 BANK A/C DETAILS OF MSTC : HDFC BANK LTD. 2/6 SARAT BOSE ROAD, KOLKATA-700 020 00140350003873 HDFC0000014 700240003

Bank Name
UBI

Branch Name
Tivoli Park

A/C Name
MSTC LIMITED

A/C No.
0068210300192

RTGS No.

UTBIOTVP1

4.3 The buyer MUST intimate the details of payment made through e-mail or by FAX to (1) calmint@spmcil.com and (2) gkdey@mstcindia.co.in giving details viz. (i) UTR NO (ii) DATE OF TRANSFER (iii) NAME OF BANK (iv) NAME OF BRANCH (v) NAME OF BUYER (vi) CITY (vii) LOT NO & QUANTITY (viii) MATERIAL DESCRIPTION.

.4 In case, the last day of payment happens to be Closed Holiday for MSTC or the Banking Institutions, the next working day will be taken as the day of payment without late payment charge. 4.5 In case of default in making payment within the time limits specified herein above, the due payments may be made together with additional charge at one per cent per week or part thereof on the material value, within a period of 14 Calendar days from the date of the expiry of the free-payment time. However, Principal reserves the right to accept or not to accept sale value with additional charges after expiry of 14 days as mentioned above. 5) SALES TAX : Sales Tax (VAT) & other duties if any over the price quoted/auctioned along with the full balance payment for issue of Sale Order. Such Taxes are assessed by the

Sales Tax Authorities and hence the rate applicable at the time of lifting of material shall be binding on the bidders for making payments. Any dispute in this regard shall be taken up directly by the bidders with the Statutory Authorities. 5.1 INCOME TAX : Income Tax @ 1% or as applicable on purchase price will be charged. Purchase price means base price + sales tax. Exemption will be given to manufacturers and processors on production of exemption certificate from the concerned assessing officer of the income tax department. Exemption is not available to retailers / traders.

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