{"id":1622,"date":"2015-12-17T00:00:00","date_gmt":"2015-12-16T18:30:00","guid":{"rendered":""},"modified":"2015-12-30T16:31:16","modified_gmt":"2015-12-30T11:01:16","slug":"nift-invites-quotation-for-conducting-physical-verification-of-assets-and-reconciliation-with-books-of-accounts","status":"publish","type":"post","link":"https:\/\/taxclick.org\/type\/opportunities\/nift-invites-quotation-for-conducting-physical-verification-of-assets-and-reconciliation-with-books-of-accounts\/","title":{"rendered":"NIFT invites quotation for conducting physical verification of assets and reconciliation with books of accounts"},"content":{"rendered":"

NOTICE INVITING QUOTATION FOR CONDUCTING PHYSICAL
\nVERIFICATION OF ASSETS AND ITS RECONCILIATION WITH BOOKS OF ACCOUNTS. <\/strong><\/span><\/p>\n

 <\/p>\n

No: NIFT \u2014
\nKANNUR\/Physical Verification\/Quotation\/12138(1)\/2015-16 <\/strong><\/p>\n

 <\/strong><\/p>\n

Receipt No& Date
\nof Issue:  <\/strong>——————————————————————-<\/p>\n

 <\/p>\n

Tender form issued to:——————————————————————————–\n<\/p>\n

 <\/p>\n

Time schedule for tender process:<\/p>\n\n\n\n\n\n
\n

Date of publication of quotation<\/p>\n<\/td>\n

\n

13.12.2015 <\/p>\n<\/td>\n<\/tr>\n

\n

Last date for receipt of duly filled in quotation <\/p>\n<\/td>\n

\n

04.01.2016, 12.00 NOON<\/p>\n<\/td>\n<\/tr>\n

\n

Date and time of the opening of quotation <\/p>\n<\/td>\n

\n

04.01.2016, 02.00 PM<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Note: This document
\ncontains 04 pages and bidders are requested to sign on all the pages. The bid
\nshould be sealed by the bidder and sealed covers super scribed as quotation for
\n“conducting physical verification of assets and its reconciliation with
\nbooks of accounts at NIFT Kannur”<\/strong><\/p>\n

 <\/strong><\/p>\n

NIFT CAMPUS,
\nMANGATTUPARAMBA, KANNUR \u2014 670 562 <\/strong><\/p>\n

Phone: 0497 – 2784780
\n<\/strong><\/p>\n

Web ID<\/strong>:
\nhttp:\/\/www.nift.ac.in\/kannur\/businessopportunities.html <\/a> <\/p>\n

 <\/p>\n

Introduction <\/strong><\/p>\n

National Institute of Fashion Technology was set up in 1986
\nunder the aegis of the Ministry of Textiles, Government of India. It has
\nemerged as the premier institute of Design, Management and Technology,
\ndeveloping professionals for taking up leadership positions in fashion business
\nin the emerging global scenario.<\/p>\n

NIFT Act 2006 published in the Gazette of India on 14th
\nJuly, 2006 confers Statutory Status on NIFT. National Institute of Fashion
\nTechnology at Kannur was set up in the year 2008. Which offers various Under
\ngraduate \/ Post graduate courses,viz. Fashion Design, Fashion Communication,
\nTextile Design, Knitwear Design, Bachelor of Fashion Technology, Fashion
\nManagement and Master of Design. <\/p>\n

Notice Inviting
\nQuotation<\/strong><\/p>\n

NIFT Kannur invites sealed quotations from registered
\nCharted Accountant firms for conducting physical verification its assets and
\nits reconciliation with books of accounts. Period of audit is (02 months)<\/strong> from 01.01.2016 to
\n29.02.2016. The duly filled up quotations should reach NIFT on or before
\n04.01.2016,12.00 Noon<\/strong>. Quotation may
\neither be sent by post or courier or may be directly handed over to the
\nadministrative section at NIFT campus, Mangattuparamba, Kanul post \u2014 670 562,
\nKannur.<\/p>\n

Conditions of
\nsubmission of bid<\/strong><\/p>\n

 i)   The bidder should furnish along with the
\nquotation Attested copies of PAN card \/ central \/ state sales tax certificates
\n\/ VAT registration certificate \/ service tax registration certificate<\/p>\n

ii)   Details like name of the firm, address,
\ntelephone number, Fax number, email id etc. <\/p>\n

iii)  Bidder should quote the rates in the annexure
\nattached. <\/p>\n

iv)  Quoted rates include all taxes, travelling
\nexpenses, etc. <\/p>\n

v)   The bidder should furnishquotations in the
\nprescribed form in annexure. <\/p>\n

 Scope of the work<\/strong><\/p>\n

 Physical verification of the Fixed Assets has to be carried
\nout in respect of assets described in following Paras.<\/p>\n

(b) The cut-off date for completion of physical verification
\nand submission of reconciliation statements in all respects is 29.02.2016. <\/p>\n

(c) The Fixed Assets as per Physical Verification is to be
\nreconciled with the Fixed Asset Register (FAR). Further, certain assets
\nsupplied by KINFRA and other centers the fixed assets value is to be reconciled
\nwith the ledger figure two. <\/p>\n

 <\/p>\n

Major Group of
\nAssets<\/span><\/strong><\/p>\n

a. Building <\/p>\n

b. Class room equipments <\/p>\n

c. Computer hard ware <\/p>\n

d. Computer soft ware <\/p>\n

e. Electrical machinery f. Furniture, Fixtures and Fittings <\/p>\n

g. Office equipment <\/p>\n

 <\/p>\n

Brief description of items which are covered under the above
\nmajor heads<\/p>\n

 <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

SI.No.<\/strong><\/p>\n<\/td>\n

\n

Major Head \/ Assets<\/strong><\/p>\n<\/td>\n

\n

Approximate Qty.<\/strong><\/p>\n<\/td>\n<\/tr>\n

\n

 <\/p>\n<\/td>\n

\n

a. Building<\/strong><\/p>\n<\/td>\n<\/tr>\n

\n

01<\/p>\n<\/td>\n

\n

Academic Block<\/p>\n<\/td>\n

\n

01 (06 Floor)<\/p>\n<\/td>\n<\/tr>\n

\n

02<\/p>\n<\/td>\n

\n

Ladies Hostel<\/p>\n<\/td>\n

\n

01<\/p>\n<\/td>\n<\/tr>\n

\n

03<\/p>\n<\/td>\n

\n

Boys Hostel<\/p>\n<\/td>\n

\n

01<\/p>\n<\/td>\n<\/tr>\n

\n

04<\/p>\n<\/td>\n

\n

Lab<\/p>\n<\/td>\n

\n

01<\/p>\n<\/td>\n<\/tr>\n

\n

05<\/p>\n<\/td>\n

\n

Canteen<\/p>\n<\/td>\n

\n

01<\/p>\n<\/td>\n<\/tr>\n

\n

06<\/p>\n<\/td>\n

\n

Auditorium<\/p>\n<\/td>\n

\n

01<\/p>\n<\/td>\n<\/tr>\n

\n

07<\/p>\n<\/td>\n

\n

Sewage Treatment Plant<\/p>\n<\/td>\n

\n

01<\/p>\n<\/td>\n<\/tr>\n

\n

 <\/p>\n<\/td>\n

\n

b. Class room
\n equipments<\/strong><\/p>\n<\/td>\n<\/tr>\n

\n

08<\/p>\n<\/td>\n

\n

Sewing Machines, Dress Forms, Mannequins, LabEquipments
\n and photographic Equipments etc.<\/p>\n<\/td>\n

\n

450 Nos<\/p>\n<\/td>\n<\/tr>\n

\n

 <\/p>\n<\/td>\n

\n

c. Computer hard
\n ware<\/strong><\/p>\n<\/td>\n

\n

 <\/p>\n<\/td>\n<\/tr>\n

\n

09<\/p>\n<\/td>\n

\n

Laptops, Desk Tops, Printers, Scanner etc.<\/p>\n<\/td>\n

\n

500 Nos.<\/p>\n<\/td>\n<\/tr>\n

\n

 <\/p>\n<\/td>\n

\n

d. Computer soft
\n ware<\/strong><\/p>\n<\/td>\n

\n

 <\/p>\n<\/td>\n<\/tr>\n

\n

10<\/p>\n<\/td>\n

\n

Software, Anti Virus etc.<\/p>\n<\/td>\n

\n

350 Nos.<\/p>\n<\/td>\n<\/tr>\n

\n

 <\/p>\n<\/td>\n

\n

e. Electrical
\n machinery<\/strong><\/p>\n<\/td>\n

\n

 <\/p>\n<\/td>\n<\/tr>\n

\n

11<\/p>\n<\/td>\n

\n

UPS, Water Purifier, Generator, Batteries<\/strong><\/p>\n<\/td>\n

\n

100 NOs.<\/p>\n<\/td>\n<\/tr>\n

\n

 <\/p>\n<\/td>\n

\n

f. Furniture,
\n Fixtures and Fittings<\/strong><\/p>\n<\/td>\n

\n

 <\/p>\n<\/td>\n<\/tr>\n

\n

12<\/p>\n<\/td>\n

\n

Computer Table, Art Table, Faculty Table, Staff Table
\n Executive Table, Library Table, Pattern Making Table, Chairs, Almirah, Cots,
\n Stools, other furniture items etc.<\/strong><\/p>\n<\/td>\n

\n

2900 Nos.<\/p>\n<\/td>\n<\/tr>\n

\n

 <\/p>\n<\/td>\n

\n

g. Office equipment<\/strong><\/p>\n<\/td>\n

\n

 <\/p>\n<\/td>\n<\/tr>\n

\n

13<\/p>\n<\/td>\n

\n

Cell Phone, Photo Copier, Fax Machine etc.<\/strong><\/p>\n<\/td>\n

\n

80 Nos.<\/p>\n<\/td>\n<\/tr>\n

\n

14<\/p>\n<\/td>\n

\n

Gym equipments, Sports items, Hostel \/ Kitchen items etc.<\/strong><\/p>\n<\/td>\n

\n

250 Nos. <\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

(Above mentioned items are only indicative but not
\nexhaustive.lnterested parties may visit NIFT Kannur campus and acquaint
\nthemselves of the volume of the assets before quoting their rates) <\/p>\n

 Delivery<\/strong><\/p>\n

The contractor will submit a draft report to NIFT
\nincorporating inter alia the discrepancies observed during the process of
\nphysical verification of fixed assets and its related reconciliation with the
\nFAR, impairment of assets, if any on the date of verification to be made out
\nseparately. The physical verification report shall include under each category
\nthe following:<\/p>\n

 (i) List of fixed assets, which have not been found together
\nwith their relevant particulars i.e. Asset ID, Description, Book Value,
\nAccumulated Depreciation and WDV as on 29.02.2016. as per FAR.<\/p>\n

 (ii) List of assets which have been found but are not
\ntraceable in the FAR together with their previous locations, if available.<\/p>\n

 (iii) List of assets which have been capitalized against
\nreplacement of existing assets such as replacement of computer peripherals,
\netc.<\/p>\n

 (iv) List of details of all such fixed assets which have
\nbeen impaired or which are not in usable condition and needs to be written off
\ntogether with their Asset ID, Description, Book Value, Accm. Depn. & WDV as
\non 29.02.2016.<\/p>\n

 (v) Suggestions and suitable adjustments\/accounting entries
\nof the excess and shortages giving full details as to the locations is to be
\nprovided.<\/p>\n

 (vi) Numbering on such fixed assets will be required as per
\nwhich NIFTwill arrange to paint the Asset No. on each such fixed asset with the
\nhelp of our team. The contractor will supply NIFT such new asset No. against
\neach asset ID as per fixed asset register.<\/p>\n

 (vii) A detailed list of movement of assets (location
\ncharges) during the period of physical verification is to be prepared. This
\nlist shall form a part of the final report.<\/p>\n

2.2 A discussion on the draft report will be held by NIFT
\nauthoritywith the contractor for obtaining management observations\/ comments on
\nall observations highlighted inthe draft report.<\/p>\n

2.3 After obtaining management comments\/ observations, the
\ncontractor will submit the Final Physical Verification Report.<\/p>\n

2.4 NIFT would also require the contractor’s suggestions for
\nwriting off any insignificant value of any fixed asset.<\/p>\n

2.5 The contractor is required to submit the deliverables in
\nsoft copy as well as 3(three) hard copies of each. <\/p>\n

 Payment<\/strong><\/p>\n

 The bidders may please note that the prices are Firm. All
\nstatutory taxes,levies, duties, etc. shall be paid on actual and the milestone
\nbased payment terms i.e payments as per milestones are defined below.<\/p>\n\n\n\n\n\n\n\n\n
\n

SI No.<\/p>\n<\/td>\n

\n

Milestone<\/p>\n<\/td>\n

\n

Payment<\/p>\n<\/td>\n<\/tr>\n

\n

01<\/p>\n<\/td>\n

\n

On submission of the Draft Physical Verification Report<\/p>\n<\/td>\n

\n

10%<\/p>\n<\/td>\n<\/tr>\n

\n

02<\/p>\n<\/td>\n

\n

On submission of the Final Physical verification Report<\/p>\n<\/td>\n

\n

30%<\/p>\n<\/td>\n<\/tr>\n

\n

03<\/p>\n<\/td>\n

\n

On approval of Final Physical verification Report<\/p>\n<\/td>\n

\n

40%<\/p>\n<\/td>\n<\/tr>\n

\n

04<\/p>\n<\/td>\n

\n

60 days after completion of all requirement as per the
\n contract agreement.<\/p>\n<\/td>\n

\n

20%<\/p>\n<\/td>\n<\/tr>\n

\n

 <\/p>\n<\/td>\n

\n

Total<\/strong><\/p>\n<\/td>\n

\n

100% <\/strong><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

Price bids<\/strong><\/p>\n\n\n\n\n
\n

Si. No.<\/strong><\/p>\n<\/td>\n

\n

Name of the work<\/strong><\/p>\n<\/td>\n

\n

Amount quoted<\/strong><\/p>\n

(All Inclusive in Rs.)<\/strong><\/p>\n<\/td>\n<\/tr>\n

\n

01<\/p>\n<\/td>\n

\n

Conducting physical verification of assets NIFT, Kannur
\n and reconciliation with the books of accounts and submission of Physical
\n verification report as per NIQ. <\/p>\n<\/td>\n

\n

 <\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

Signature                     :<\/p>\n

 <\/p>\n

Name of the bidder   :\n<\/p>\n

 <\/p>\n

Addresses                    :  <\/p>\n

<\/p>\n

Download<\/a><\/p>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

NOTICE INVITING QUOTATION FOR CONDUCTING PHYSICAL VERIFICATION OF ASSETS AND ITS RECONCILIATION WITH BOOKS OF ACCOUNTS.    No: NIFT \u2014 KANNUR\/Physical Verification\/Quotation\/12138(1)\/2015-16   Receipt No& Date of Issue:  ——————————————————————-   Tender form issued to:——————————————————————————–   Time schedule for tender process: Date of publication of quotation 13.12.2015 Last date for receipt of duly filled in quotation 04.01.2016, … Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_uag_custom_page_level_css":"","_mi_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[13],"tags":[266],"yoast_head":"\nNIFT invites quotation for conducting physical verification of assets and reconciliation with books of accounts - All About Finance<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/taxclick.org\/type\/opportunities\/nift-invites-quotation-for-conducting-physical-verification-of-assets-and-reconciliation-with-books-of-accounts\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NIFT invites quotation for conducting physical verification of assets and reconciliation with books of accounts - All About Finance\" \/>\n<meta property=\"og:description\" content=\"NOTICE INVITING QUOTATION FOR CONDUCTING PHYSICAL VERIFICATION OF ASSETS AND ITS RECONCILIATION WITH BOOKS OF ACCOUNTS.    No: NIFT \u2014 KANNUR\/Physical Verification\/Quotation\/12138(1)\/2015-16   Receipt No& Date of Issue:  ——————————————————————-   Tender form issued to:——————————————————————————–   Time schedule for tender process: Date of publication of quotation 13.12.2015 Last date for receipt of duly filled in quotation 04.01.2016, ... 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