Empanelment of CA Firm for Tax Consultant of Madhya Pradesh Power Generating Company Limited

Introduction

MP Power Generating Company Ltd, Jabalpur (MPPGCL), is the State owned power generating company of Madhya Pradesh with its Headquarter located at Jabalpur having its running Thermal & Hydel power stations located at various locations in the state of Madhya Pradesh out of which some Hydro stations have share with neighboring States of Rajasthan, Maharashtra and Uttar Pradesh as well as have sharing in some hydro power stations located in other state intends to initiate the process of selection of Tax Consultant on retainer ship basis.

MPPGCL is issuing this “Enquiry” for inviting proposals from eligible Chartered Accountants/ Chartered Accountants Firms to select a “Bidder/Consultant Firm” for working out acceptable solution and carrying out required works on Retainer ship basis. The MPPGCL would enter into a contract (hereinafter referred as 11The Contract”) with selected “Bidder/Consultant Firm” (hereinafter referred as “The Consultant Firm”) to complete the specified works (hereinafter referred as “The Scope”} within the time limits (hereinafter referred as “The Period of Contract”).

Scope of Work

The broad Scope of the exercise are:

1. The Scope is covered in the subheads below:

i. The Consultant Firm shall be required to get the assessment of Income Tax of the company by appropriate Authorities for all Annual Accounts and ITR filed by Company ( except assessment of A Y 2008- 09) during the tenure of contract which may also be pertaining to prior period. This includes attending the Assessment before IT authorities, preparation of reply, filling of appeals, filling for stay order or any other requirement till completion of Assessment during the Contract period.

ii. In case any notice/queries relating to Tax matters is received by MPPGCL from Income tax authorities, The firm will be required to present the Company’s stand before the Tax Authorities on behalf of the Company for which company will issue authorization letter.

For point No.3.1.1 (i} and 3.1.1 (ii) as mentioned above, company will provide internal documents and other relevant records for  preparing representation letter. It will be the responsibility of the firm to prepare representation letter substantiating company’s stand and supporting the representation with relevant case laws and other judgments.
The representation should be done on firm’s letter head and signed by the FCA Partner of the firm after discussion with company officials and briefing the officials about the opinion of the firm based upon the various judgments and case laws. FCA Partner should appear in hearing before IT Authority however, in case of non­ availability of FCA partner the ACA partner may appear before the IT authority under intimation to the officer In-charge. However, the representation letter will invariably be signed by the FCA Partner.

iii. Consultant firm should impart quarterly training at Head Office on any update/changes relating to Income tax and any other direct tax that may become applicable on Company. Consultant firm should circulate the following:-

a. Taxation rates as amended from time to time.
b. Due dates for payment of tax
c. Procedure for tax calculation and deposit of the same.

iv. Consultant firm should provide opinion on issues raised by any office of the company on Income Tax matters.

v. Firm will be required to provide and prepare necessary information, as and when required by Statutory Auditors, Tax Auditors, Internal Auditors or C&AG Auditors or any other person relating to Income tax matters.

vi. The Consultant firm’s representative should visit HQ and RAO as and when required.

vii. The Consultant Firm shall be required to assist MPPGCL in Tax planning, assessing its tax positions etc. as and when required including advance Tax planning

viii. Firm will be required to assist the Company in preparation of Income Tax computation for

ix. The Consultant Firm will be required to file SFT return of MPPGCL.

x. Compliance of Direct Tax like Income tax, and any other taxes which may become applicable on company during the tenure of the Contract.

It is to be clarified that during the currency of the contract for any matter as explained above, The FCA partner of the firm shall be required to assist the company.

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