FW: ATTENTION :::: PRIVATE SECTOR BIDDERS CHANGES AFTER 1st April 2018 at www.isalvageauction.com
isalvageauction
Dear Sir,
From 8th Feb 2018, the bidding on site under private sector has been allowed only for users who comply with GCA and GA condition of the site. In view of the said change the interested buyers may use the services of site as below. Also the Fee Structure has been changed and is as below for Private sector bidders effective from 1st April 2018 and other fee related details can be viewed from page www.isalvageauction.com/fees.php . Those having complied for GCA and GA prior to 01st April,2018 will continue to use the services without any effect of these changes.
One should know that We had been providing services since 2008 in
open and transparent manner and free of charges. The concept had been
introduced as DIGITAL INDIA even before the Govt. Of INDIA encouraged to adopt
such systems. The Site is in line with MAKE IN INDIA 
The GCA and GA facility till 8th Feb 2018 was not compulsory and was being opted for on voluntary basis. Since more than 1500 registered buyers on the site were using the services some had been misusing the facility and making unrealistic offers which in turn were reducing the reputation of the site and causing bad name in eyes of insurers.
You should know that most of the insurers have made it mandatory for surveyors to list the item on line and are demanding the printout of the final outcome which does forms part of the survey report. In view of the same and to improve the credibility of buyers and site alike the said change was necessary for which you too will agree. Your support in making a better system are desired. One should still keep in mind that still the decision to sell or accept your offer made through the site will be of the listing party. Such change will only assure to the surveyors that the bid placed are genuine and site guarantees their genuineness and assures for the guarantee amount for the bid placed to the amount opted for by the buyer.
CONCEPTS
· VERIFIED For becoming verified the buyers has to get his ID and Address proof verified by sending scan of PAN card, Adhaar Card and Ist page of Bank Pass book and also send self attested copies of same to the address of isalvageauction.com. Further send your GSTIN number if registered along with the above documents and our team will thereafter will confirm you as VERIFIED BIDDER.
· GCA For becoming GCA compliant you will need to deposit Rs 4237.29 as one time fee Plus 18% GST i.e. Rs 5000.00 for said service (Which is non refundable) and further has to deposit minimum of Rs 20000.00 as security deposit (Refundable subject to conditions... Ref FAQ pages for more details). The minimum deposit of Rs 20000.00 has been kept for small buyers who will give compulsory GA of Rs 3000.00 for each bid. More reputed buyers may deposit higher amount for example person depositing Rs 50000.00 can increase his GA to Rs 7500.00 ie. Minimum GA requires 15% of GCA amount . This implies that small buyers can opt for the same with minimum deposit of Rs 25000.00 with the site to avail the benefits of GCA and GA services.
· GA Guarantee Amount It is amount which the bidders sets as his guarantee amount for the bid placed and in case the surveyor makes complaint that buyers has not honoured his offer made on site and caused him hardship then after verifications the amount upto GA will get deducted from buyers account and will be retained by site till such time the same is claimed by the surveyor/Insurers for the hardship caused to him/them while using the services of the site.
You can send the documents hard copies to our address as below.
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To, C/O M/S Pulkit Enterprises Marble Market, Near Celebration Banquet Hall, JAMMU, JAMMU AND KASHMIR
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OR |
To, H.No. F 1827, Dogra Academy Lane Shastri Nagar, JAMMU 180004 JAMMU AND KASHMIR
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You can send your amount to isalvageauction.com in form of DD payable to isalvageauction.com at Jammu, or by cheque payable to isalvageauction.com or by NEFT to our account having details as below.
Name of Account holder isalvageauction.com
Account type Current account
Account no 147010200009249
Bank Name Axis Bank LTD
Bank Address Rail head complex Bahu Plaza Jammu.
Bank IFS code UTIB0000147
MICR code of branch 180211002
On confirmation of payment in our bank the same will get reflected in details of your registered details and will get communicated to you.
GST
OUR GSTIN no. Is 01ABUPT5543J1Z7. If you are registered under GST you may quote your GSTIN no. For ITC claim. You may note that the 18% GST will be applicable on the Auction service under SAC code 996111. The GST will be applicable on the Fees of Rs 4237.29 i.e. including GST the same will be RS 5000.00. GST will not be applicable on the Security deposit (Refundable) subject to GST rules and regulations. GST will be applicable on security deposit only in case there is deduction from security deposit in case of non compliance of terms and conditions of the site.
(The minimum deposit amount for GCA and GA condition after GST will now be Rs 25,000.00 inclusive of GST .
ADDITIONAL DOCUMENTS : You can now send self attested copies of your PAN Card, Aadhaar Card, and GST no (If registered) along with your bank pass book First page along with the security deposit and fees of GCA. After scrutiny of such documents your account will be activated to view the details of seller/surveyor along with the facility to place bids through the site.
Hope you will find the information useful and since you may had benefitted from the services of site will get more boost .
Have a nice day.
REGARDS
From