The Technical Cell of the Institute of Cost Accountants of India is inviting suggestions on the Exposure Draft of Guidance Notes latest by 31st December 2020. Read the official announcement below:
Technical Cell (2020-21)
Request for Comments
As part of the Government of India’s initiative "Make in India", the Department of Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry, Government of India has introduced multiple new initiatives. To encourage 'Make in India' and to promote manufacturing and production of goods and services in India with a view to enhancing income and employment, Government of India, through the DPIIT issued Public Procurement (Preference to Make in India), Order 2017 on June 15, 2017 as amended thereafter.
DPIIT’s Public Procurement (Preference to Make in India), Order 2017 has prescribed that:
(i) in case of procurement of value upto Rs.10 crore, the 'Class-I local supplier'/'Class-II local supplier', at the time of tender, bidding or solicitation, shall provide self-certification that the item offered meets the local content requirement; and
(ii) for procurement of value in excess of Rs.10 crore, the 'Class-I local supplier'/'Class-II local supplier' shall provide a certificate from the statutory auditor or cost auditor of the company (in the case of companies) or from a practicing cost accountant or practicing chartered accountant (in respect of suppliers other than companies) giving the percentage of local content.
In order to enhance the capacity of the members and stakeholders in this area and also for better understanding of the provisions relating to Public Procurement (Preference to Make in India), Order 2017; requirements of local/indigenous content in the manufacturing/ production of goods & services in India; and policy of purchase preference in public procurements, the Technical Cell of the Institute has developed a draft of Guidance Note which is expected to be helpful in assessing the facts and circumstances involved in each particular case of providing certification for local / indigenous content in the manufacturing/production of goods & services, at various stages of bidding and supply. It also contains various formats for local/indigenous content's computations and certifications.
In its meeting held on 16th October 2020, the Technical Cell has approved the release of Exposure Draft of Guidance Note on Local / Indigenous Content in Manufacturing / Production & Supply of Goods and Services, for public comments. The draft shall be finalised by the Technical Cell in the light of suggestions/ comments received from the stakeholders.
Please submit your views / comments / suggestions on the Exposure Draft in the following format latest by December 31, 2020 . through email at technicalcell@icmai.in
- Please click here to download the Exposure Draft
- Please click here to download the Annexures
CMA Chandra Wadhwa
Former President and
Chairman, Technical Cell (2020-21)
CAclubindia
