Empanelment of CA firm for Concurrent Audit of Indian Railway Catering and Tourism Corporation Limited

Indian Railway Catering and Tourism Corporation Limited was set up by the Ministry of Railways, Government of India to upgrade, professionalize and manage catering and hospitality services at Railway stations, on trains and other locations; to promote domestic and international tourism, development and establishment of Budget Hotels, Rail Ticketing through Internet and to provide quality packaged drinking water. During the financial year ended on 31st March, 2021 the Corporation has reported a total income of Rs. 869 Crore and net profit of Rs.189 Crore.

Scope of Work

Period of assignment for the work to be undertaken by the Firm will be for the period of two years (starting from the date of commencement mentioned in the letter of award) and can be extended for further one year on satisfactory performance at the sole discretion of the IRCTC LTD. The work will be completed on submission of all the MIS reports for the last month and successful handing over of the records/details/data to the successors/Client and only after receiving the NOC from IRCTC/ Successors.

A. Regular Periodical Activities

Direct Taxes Matters: –

i. To study the existing internal process followed for the tax compliance and records/reports prepared and to suggest for the improvement, if any.

ii. Computation and depositing of Monthly TDS (Salary & non-Salary) for all the TANs on PAN basis and reconciliation with the books of accounts. Filing of quarterly TDS returns such as 24 Q, 26 Q, 27 Q etc for all the TAN of the Company. Downloading of TDS certificates from the TRACES and providing the same to the concerned party under the record.

iii. Carrying of corrections required in TDS returns relating to PANs, challans etc. in TRACES and to provide the revised /corrected certificates to the parties concerned.

iv. Scrutinizing the books of accounts to ensure that the TDS under the Income Tax wherever applicable has been deducted as per the provisions of the Income Tax Act 1961. To compile the reconciliation as to the total expenses incurred under the various heads and the TDS deducted thereon, TDS deducted on lower rates and TDS not deducted with the reasons.

v. Reconciliation of TDS returns filed with the books of accounts.

vi. Computing the advance tax liability under the Income Tax Act and suggesting the amount to be deposited before the applicable due date.

vii. To review, check & ensure that the entries relating to deducting and depositing of TDS are properly booked in ERP system of the Company.

viii. Periodical reconciliation of TDS deducted by client/customers/ vendors of IRCTC with Form 26 AS and to intimate the detail of parties whose taxes are not reflecting in Form 26 AS to IRCTC for following up with the client.

ix. To ensure filing of Annual Income Tax return, Annual Information Report (AIR), Form-61 A (Statement of Financial Transactions) required to be filed and any other return as required to be filed under the Income Tax Act 1961.

x. To update the amendments/changes brought in the Direct Taxes from time to time to all the concerned and informing the management to get it implemented in ERP system.

Indirect Taxes Matters

a. To study the existing internal process followed for the tax compliance and records/reports prepared and to suggest for the improvement if any.

b. Conducting detailed trial balance / ledger review on monthly basis to ensure that GST is being paid on all taxable supplies under forward charge as well as reverse charge Mechanism etc. for all the GSTINs of the company.

c. To compile the monthly tax computations of all the operations of the company for all the states and to pay the due tax before the due date of deposit of tax.

d. To file the monthly GST returns i.e. GSTR-1, GSTR-3 B for all the states. To file the other GST returns to be made applicable such as GSTR -2 or any other return which may be applicable in future.

e. IRCTC shall appoint GST auditor (if required) for all the registered states. GST Auditors fees shall be borne / paid by the IRCTC. Outsourcing firm shall be responsible to co-ordinate with GST Auditors, compile the data & ensure smooth completion of GST Audit and filing of GSTR-9 & GSTR-9C etc within the prescribed time.

f. To compile the books of accounts after scrutiny of the transactions and to get all the payment of TDS made before the due date. To file the monthly GST-TDS returns and to provide the TDS certificates to the parties for all the GSTIN.

g. To compile the GST-TCS liability for the e-commerce business of the company and to pay the taxes and file the returns required in this regard before the due date.

h. To generate the e-invoice for the invoices raised by the corporation.

Eligibility Criteria

The following eligibility criteria are mandatory for participating in this Open tender.

(i) The Bidder must be either a registered partnership firm, Proprietor, LLP or a Company and should have been in Accounting, Auditing and taxation services in India at least for the last five years. (Copy of GST registration, PAN and Certificate of Incorporation, Certificate of registration of firm / LLP Registration /Registered partnership deed required).

(ii) The Registered head office /Branch office of bidder must be in Delhi or Delhi NCR. In addition to this, the bidder must also have its offices (head office or branch office) in two cities out of Mumbai, Kolkata, Chennai and Hyderabad. (Copy of registration certificate issued by the ICAI for details of Head office and Branches required)

(iii) For Non MSMEs & Start Ups: -The Bidder should have total turnover (audited) of INR 15 crores or more in the last three financial years i.e. 2018-19, 2019-20 and 2020-21 related to professional services and net worth of INR 1.50 crore as per the last audited financial statement (F.Y 2020-21) submitted with the bid document.

For MSMEs & Start Ups-The Bidder should have total turnover (audited) of INR 3.75 crores or more in the last three Financial Years i.e. 2018-19, 2019-20 and 2020-21 related to professional services and net worth of INR 37.50 Lacs as per the last audited financial statement (F.Y. 2020-21) submitted with the bid document.

Turnover & Net Worth of the firm should be supported by audited profit and loss account & balance sheet. (Turnover and Net worth of the firm should also be supported by a certificate from a practicing Chartered Accountant or the Firm’s Auditor.).

Further, for MSMEs/Start-ups, who are taking the benefit of reduced criteria for turnover must submit the valid Udhyog adhaar certificate issued for MSMEs and certificates issued from DPIIT (Department for Promotion of Industry and Internal Trade (DPIIT) for start-ups.

(iv) The bidder should have an experience of providing Indirect/ Direct taxation consultancy services for minimum continuous period of one year in the last five years (w.e.f. 1.4.2016 till date) to at least 3 clients having turnover of more than Rs.350 Crores to any Ministry/Department of Central Government, CPSUs, Companies registered under Indian Companies Act etc. Out of the above three assignment of consultancy, one assignment must be for GST consultancy. {(i) Copy of Client certificate clearly indicating the period covered is required. (ii) Relevant extract of Annual accounts of the client in the relevant F.Y having turnover of more than Rs 350 Crore or any other documentary evidence in case non availability of Annual Accounts of the clients also may be provided).

(v) The bidder should have at least 15 Qualified Chartered Accountant in their firms as partner or on roll and should have experience more than 10 years in the area of Consultancy/ Taxation/ Finance & Accounting. (Self-declaration as per Annexure” C”).

(vi) The bidder should have litigations experience in the field of Indirect Taxation such as VAT, Excise Duty, Customs Duty and Service Tax, GST and Income Tax. (Self-Declaration as per Annexure “D”)

General conditions of Contract

1. If a bid is not substantially responsive, it will be rejected by IRCTC and may not subsequently be made responsive by the bidder by correction of the nonconformity. IRCTC’s determination of bid responsiveness will be based on the contents of bid itself and any written clarifications sought by IRCTC in writing the response to which shall also be in writing and no change in rates shall be permitted in response.

2. Offers shall be deemed to be under consideration immediately after they are opened and until such time the official intimation of award of contracts is made by IRCTC to the bidder. While the offers are under such consideration, bidder and or their representatives/other interested parties are advised to refrain from contacting IRCTC by any means. If necessary, IRCTC will obtain clarifications on the offers by requesting for such information from any or all the bidder, in writing, as may be considered necessary. Bidder will not be permitted to change the substance of their offers after the offers have been opened.

3. IRCTC is however not bound to accept any tender or to assign any reason for non-acceptance. IRCTC reserves its right to accept the tender either in full or in part. Conditional, erroneous and incomplete Bids will be rejected out rightly.

4. The IRCTC may waive any minor nonconformity, or irregularity in a bid that does not constitute a material deviation, provided such waiver does not prejudice or affect the relative ranking of any bidder.

5. Prior to the detailed evaluation, IRCTC will determine whether each bid is complete, and is substantially responsive to the bidding documents. For purposes of this determination, a substantially responsive bid is one that conforms to all the terms, conditions and specifications of the Tender Documents without material deviations, exceptions, objections, conditionality’s, or reservations. A material deviation, exception, objection, conditionality, or reservation is:

a. One that limits in any substantial way the scope, quality, or performance of the product/material/stores.

b. One that limits, in any substantial way that is inconsistent with the tender documents, the IRCTC rights or the successful bidders’ obligations under the contract; and

c. One that the acceptance of which would unfairly affect the competitive position of other bidders who have submitted substantially responsive bids.

If a bid is not substantially responsive, it will be rejected by the IRCTC and may not subsequently be made responsive by the bidder by correction of the nonconformity. The IRCTC’s determination of bid responsiveness will be based on the contents of bid itself and any written clarifications sought by the IRCTC in writing the response to which shall also be in writing and no change in rates shall be sought, offered or permitted.

6. Bids are not transferrable. IRCTC reserves the right to reject or accept any tender. The decision of IRCTC in this regard will be final and IRCTC is not liable to assign any reasons for the decision.

7. During evaluation, IRCTC may, at its discretion, ask the bidder for clarification(s) of its bid. The request for clarification and response shall be in writing, and no change in the price or substance of the tender shall be permitted in response.

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