Common use of Turnover provisions Clause in Contracts

Turnover provisions. a. The tenderers should submit along with the tender, a certified photo state copy of the last three years Annual Accounts with Audited certificate by Chartered Accountant, Income Tax returns and a copy of current valid income tax clearance certificate (IT CC), otherwise bidder will not be considered for administrative evaluation (in evaluation of Technical bid) and will be declared disqualified in technical evaluation. b. In case of bidder falls under Section 44AD/44ADA/44AE of Income Tax shall be required to submit turnover certificate verified by Chartered Accountant with his Registration number issued by Institute of Chartered Accountants of India. c. In case of supplier is an Indian Agent, the firm can submit copies of purchase orders issued in favour of firm (As the payment is made through LC directly to foreign manufacturer and equipment payment does not exist in the book of account of the supplier) in support of its turnover whatever amount is getting short. (iv) There will be relaxation on turnover on case to case basis for Start-up firms registered by Government of India under Start-ups scheme as per orders of Ministry of Commerce, Government of India.