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GST Input Credit Compliance

1) The document is an undertaking from a bidder towards complying with the anti-profiteering clause of the GST Acts/Rules. 2) It states that any reduction in tax rates or benefit from input tax credits must be passed on to recipients in the form of lower prices. 3) The bidder offers a discount equal to the maximum possible benefit from GST to comply with this requirement. 4) The bidder agrees to allow recovery of any additional undisclosed benefits or legal action if they fail to pass on the full GST benefits to the purchaser.

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Mundakayam Substation KSEB
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36 views1 page

GST Input Credit Compliance

1) The document is an undertaking from a bidder towards complying with the anti-profiteering clause of the GST Acts/Rules. 2) It states that any reduction in tax rates or benefit from input tax credits must be passed on to recipients in the form of lower prices. 3) The bidder offers a discount equal to the maximum possible benefit from GST to comply with this requirement. 4) The bidder agrees to allow recovery of any additional undisclosed benefits or legal action if they fail to pass on the full GST benefits to the purchaser.

Uploaded by

Mundakayam Substation KSEB
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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IJ}IDBRTAKI}IG BY BIDDER TOWARDS ANTI PROFITEERING

CLAUSE OF GST ACTSIRULES


(fo be submitled on Ietter head)

To
'lhe Depu) ahiel Engineer,
'fransmission Circle, KSEBL,

I(ottayam.
Sir'

Sub: GST- passjng olt the benefit of Inpul Crcdit - undertaking - reg
R€|:.I'ende4Kl/E€.fo.ffi'upp1y/workof......',.'..,',:....'.(short
description of work /suPPlY)

1. Wc................-......-....... ...-.....OJame of bidder with address) have submitted Bid


No..........................---.Dated........... . ..--------.... .against afoEsaid tender.
OR
WE....-...:..............,.......-..-.0\lame of contractor'$ith address) havq :t!e
WO/PONo.-......-............ ...................,..daaed......'..............'.......for dre above referred
u rl,/ u1'n11.

2- Accoftling to section 171 of cGsT Ao/sGsT Act, "any reduction i{ late of ta'\ on
any supplv of Goods or Services or the benefit ofinput tax credit shall be pas,scd on to
thc rccipielll by way ofcommensurate reduotion in pices".

3. Accordingiy we lrereby ofler a discount of-R3:......4 *!.k......;......J,......V'i on


quoted pr;ces d e to reddction in rate of ta:i or availabllib' of benefit of Input Ta'x'
Credit.

4. wc hereby confinn that above discount is maxi1num possible benefit available aDd is
in conpliaDcc \tilhthe aforcs€id Sectioo 171 ofCCST Aof/SCST Act

5. ln case iL is lbund at a iater stago that, any addltional benefit on account of GET is

6. ln casc of fsilure from our pan, ofpassing on the bercfit, we llelebygutltorise Kera a
State Elcct cily Board Limited to recover the adount froin any 4mount alueto !s, or
to take legal action against us fol recovery ofthe sa|De.

PIacq: Signatlre of Authorised Signalo;y of Bidder/Cont actor

Dale: Name FtT H \< t'aLPJaL'l


f AN.IT
ir c^. 3\
l!
'{'*t;".' t
q1
(,!

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