Request for Proposal [RFP]
For Appointment of Tax Consultant for
India Brand Equity Foundation (IBEF)
Date of Issue: 23rd October, 2019
Deadline for Submission: 13th November,2019
India Brand Equity Foundation,
20th Floor, STC Building,
Jawahar Vyapar Bhawan
Tolstoy Marg, Janpath,
New Delhi - 110001
[Total Number of Pages including this page of the RFP: 8]
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1.1.1 The India Brand Equity Foundation (IBEF) is a Trust established by Department of Commerce,
Ministry of Commerce & Industry, Government of India. IBEF's primary objective is to promote and
create international awareness of the Made in India label in markets overseas and to facilitate
dissemination of knowledge of Indian products and services. Towards this objective, IBEF works
closely with stakeholders across government and industry to promote Brand India.
1.1.2. IBEF proposes to appoint a reputed "Tax Consultant firm " for the scope of work as defined in
`Annex-1' of this RFP.
1.1.3. The firm must have prior experience of handling a similar works as proposed in Annex-1.
1.1.4. Initially the firm would be appointed for a period of one year, which may be extended for one
year each for next 4 years subject to discretion of IBEF management.
1.1.5. Interested firms are invited to submit their proposals for the assignment, which must include
the following, as detailed subsequently in this document:
a. A Eligibility Proposal and
b. A Technical Proposal and
c. A Financial Proposal
1.1.6. It may be noted that
(i) The costs of preparing the proposal are not reimbursable and
(ii) IBEF is not bound to accept any of the proposals submitted.
1.1.7. The firms are required to provide professional, objective, and impartial services and at all times
hold the IBEF's interests paramount, without any consideration for future work, and strictly avoid
conflicts with other assignments or their own interests.
1.1.8. Firms have an obligation to disclose any situation of actual or potential conflict that impacts
their capacity to serve the best interest of IBEF, or that may be reasonably perceived as having this
effect. Failure to disclose such situations by the firm may lead to disqualification of the firm or
termination of the contract.
1.1.9. Firms must observe the highest standards of ethics during the selection and execution of the
contract. IBEF may reject a proposal at any stage if it is found that the firm recommended for award
has indulged in corrupt or fraudulent activities in competing for the contract in question, and may also
declare a firm ineligible or blacklist the firm, either indefinitely or for a stated period of time, if at any
time it is found that the firm has engaged in corrupt or fraudulent practices in competing for, or in
executing, the contract.
1.1.10. The family members/ blood relations of employees and/or full-time consultants (i.e.
consultants working exclusively with IBEF on retainer ship basis) of IBEF shall not be eligible to
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participate in the RFP process. Any proposal submitted by them may be summarily rejected. In case,
IBEF comes to know of the relationship subsequent of the award of contract, the contract shall be
liable to be cancelled. It is clarified that the term full time consultants of IBEF does not refer to
firms/people, which may have been shortlisted for an assignment/project of IBEF through an RFP
1.2 Minimum Eligibility Criteria
i. The firm should be a Chartered Accountant Firm (please enclose latest ICAI firm
ii. The firm must have prior experience of handling a similar works and firm should be
able to provide services for compliance of both Direct and Indirect taxes (please
enclose details of similar works handled).
iii. The firm should have completed at least 10 years of its establishment (please
enclose latest ICAI firm registration certificate).
iv. The firm should have at least 5 qualified members (i.e., Chartered Accountants)
(please enclose latest ICAI firm registration certificate)
v. The `head office' of the firm must be in Delhi-NCR as per the records of ICAI (please
enclose latest ICAI firm registration certificate).
vi. The firm should not have been disqualified for being appointed as tax consultant,
under any law for the time being in force (please enclose self-declaration).
vii. The firm or its members/proprietor should not have faced/facing any proceeding for
disciplinary action/ breach of conduct under relevant law of The Institute of Chartered
Accountants of India (please enclose self-declaration).
1.2.2 The firm needs to demonstrate experience of handling similar works of comparable stature. The
details of at least one similar work, along with the work completion testimonial certified from client, is
1.3 Scope of Work
The detailed scope of work is provided in Annex 1.
1.4 Preparation of Proposals
Firms are required to submit a Minimum Eligibility Proposal, Technical Proposal and a
Financial Proposal, as specified below.
(a) Minimum eligibility proposal shall contain all the requisite information as described in para
1.2.1 & 1.2.2 above.
(b) Technical proposal
1.4.1 The Firms are expected to provide the Technical Proposal as specified in this RFP Document.
1.4.2 The Technical Proposal shall contain the following:
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i. Comprehensive detail of at least 5 similar works which are being currently
handled by the firm;
ii. At least 2 Client testimonials, certifying the completion of work of similar nature;
iii. Details of present clientele (like name and contact no.);
iv. The details of the team to be assigned for the work under the current RFP;
v. An undertaking on the letterhead of the firm and signed by an authorised
signatory, that the Agency will undertake the assignment, in accordance with the
Scope of Work detailed in the RFP document and at the cost submitted by the
firm in the financial proposal (the cost is not to be indicated in the
undertaking). The above undertaking submitted by the firms would be binding
on the them;
1.4.3 The Technical Proposal shall not include any financial information, else the bid shall rejected
(c) Financial Proposal
1.4.4 In preparing the Financial Proposal, firms are expected to take into account the requirements
and conditions outlined in the RFP document.
1.4.5 Letter of Financial Proposal should include:
i Total cost of the project
ii Break-up of costs for each of the items of work listed in the Scope of work
iii. Cost for any other element, which is not specified in the Scope of work and
is considered relevant by the RFP participant must be highlighted
1.4.6 Taxes as applicable in India will be paid as per actuals and the same are not required to
be indicated in the financial bid.
1.4.7 The cost quoted will be firm and fixed for the duration of performance of the contract. At no
point of time will any deviation from the quoted rate be entertained by IBEF.
1.4.8 The Financial Bid shall not include any conditions attached to it and any such conditional
financial proposal shall be rejected summarily.
1.5 Submission of Proposals
1.5.1 The original proposals (Minimum Eligibility Proposal, Technical Proposal and Financial
Proposal) shall be prepared separately. It shall contain no interlineations or overwriting, except as
necessary to correct errors made by the firm itself. Any such corrections must be authenticated by the
persons or person who sign(s) the proposals.
1.5.2. The Minimum Eligibility Proposal should be placed in a sealed envelope and superscribed
"Minimum Eligibility Proposal for rendering Direct & Indirect Tax Services to IBEF".
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1.5.3. The Technical Proposal should be placed in a sealed envelope and superscribed "Technical
Proposal for rendering Direct & Indirect Tax Services to IBEF".
1.5.4. The Financial Proposal should be placed in a sealed envelope and superscribed "Financial
Proposal for rendering Direct & Indirect Tax Services to IBEF".
1.5.5. If all the proposal are not submitted in separate sealed envelopes duly superscribed as
indicated above, this will constitute grounds for rejection of the bid.
All the sealed envelopes should be put into an outer envelope and sealed. The outer envelope shall
be superscribed "Proposal for rendering Direct & Indirect Tax Services to IBEF" with the date of
submission. The outer cover should carry the full name, address, telephone numbers, e-mail ID etc.
of the firm submitting the Proposal.
1.5.6 The outer envelope containing the sealed Eligibility, Technical and Financial Proposals should
be addressed and delivered to:
INDIA BRAND EQUITY FOUNDATION
20th Floor, STC Building, Jawahar Vyapar Bhawan
Tolstoy Marg, New Delhi 110001
Enquires, and requests for further information about this RFP, should be directed to the Contact
Officer as follows:
Contact Officer: Mr Ashwani Kumar
Sr. Manager Finance & Accounts
1.5.7 The Proposal should be submitted upto 5 pm on or before 13 November, 2019
1.5.8 No Proposal will be accepted after the deadline for submission and in the event of any proposal
being received after the closing time for submission of proposals, the same shall be discarded.
1.6 Opening of Proposals and Selection Process
1.6.1 The three bid system will be followed; at the first instance the minimum eligibility proposal will
be evaluated as stipulated in para 1.2.1 & 1.2.2. Thereafter technical bids of only qualified
bidders (i.e., who meet eligibility criteria) will be evaluated. It is clarified that prospective
bidders scoring 70% and more in the Technical Proposal (please refer to Annex 2) will be
deemed to qualify for the final stage of the bid. At the final stage, the financial bids of only
technically qualifying biding firms will be opened and the lowest (L1) bid from among the
technically qualifying bidder will be accepted.
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1. This RFP document is neither an agreement nor an offer by India Brand Equity Foundation
(hereinafter referred to as IBEF) to the prospective Applicants or any other person. The
purpose of this RFP is to provide information to the interested parties that may be useful to
them in the formulation of their proposal pursuant to this RFP.
2. IBEF does not make any representation or warranty as to the accuracy, reliability or
completeness of the information in this RFP document and it is not possible for IBEF to
consider particular needs of each party who reads or uses this RFP document. This RFP
includes statements which reflect various assumptions and assessments arrived at by IBEF in
relation to the statement of work. Such assumptions, assessments and statements do not
purport to contain all the information that each Applicant may require. Each prospective
Applicant should conduct its own investigations and analyses and check the accuracy,
reliability and completeness of the information provided in this RFP document and obtains
independent advice from appropriate sources.
3. IBEF will not have any liability to any prospective Applicant/ Firm/ or any other person under
any laws (including without limitation the law of contract, tort), the principles of equity,
restitution or unjust enrichment or otherwise for any loss, expense or damage which may
arise from or be incurred or suffered in connection with anything contained in this RFP
document, any matter deemed to form part of this RFP document, the award of the
Assignment, the information and any other information supplied by or on behalf of IBEF or
their employees, any firm or otherwise arising in any way from the selection process for the
Assignment. IBEF will also not be liable in any manner whether resulting from negligence or
otherwise however caused arising from reliance of any Applicant upon any statements
contained in this RFP.
4. IBEF will not be responsible for any delay in receiving the proposals. The issue of this RFP
does not imply that IBEF is bound to select an Applicant or to appoint the Selected Applicant,
as the case may be, for the services and IBEF reserves the right to accept/reject any or all of
proposals submitted in response to this RFP document at any stage without assigning any
reasons whatsoever. IBEF also reserves the right to withhold or withdraw the process at any
stage without intimation to all who submitted the RFP Application.
5. The information given is not exhaustive on account of statutory requirements and should not
be regarded as a complete or authoritative statement of law. IBEF accepts no responsibility
for the accuracy or otherwise for any interpretation or opinion on the law expressed herein.
6. IBEF reserves the right to change/ modify/ amend or cancel any or all provisions of this RFP
document. Such revisions to the RFP/amended RFP will be made available on the website of
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Scope of work
1. Assist in applying and obtaining No/ Lower deduction of TDS certificate from Income Tax
authorities (Please specify the cost for the entire year).
2. Issue and granting foreign remittance certificate whenever required, in case of remittance outside
India (Please specify the cost for issuing each certificate).
3. Computation of taxes and filing of IBEF annual Income Tax return (including revised returns etc. if
any) as per the provisions of Income tax act, 1961 (Please specify the cost for the entire year).
4. Responsible for handing Income tax assessment cases/matters and represent IBEF before tax
authorities (Please specify the cost to complete the entire assessment).
5. Suggest the best ways to IBEF for the better Tax planning (Please specify the cost for the entire
6. Appear on behalf of IBEF before Tax Authorities, for any other tax related matters (Direct as well
as Indirect) (Please specify the cost for the entire year).
7. Assist IBEF to comply with new amendments in tax laws (Direct as well as Indirect) and also guide
in case of day to day tax related matters including guidance on specific tax matters, which may
arise, on account of change in law, inaccurate compliance etc. (Please specify the cost for the
8. Attend requisite meetings with IBEF management and meetings of the Board or Finance
Committee etc. as may be required by IBEF (Please specify the cost for attending each
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Technical Proposal Evaluation
1. At least 5 similar works which are being currently handled;
o For obtaining of no/lower deduction of TDS certificate- 5%
o For issuing foreign remittance certificate- 5%
o For preparing computation of taxes and filing of return of the Trust- 10%
o For successfully completing the Income tax assessment case of the Trust- 10%
2. At least 2 Client testimonials, certifying the completion of work of similar nature 20%
3. The details of the team to be assigned for the work under the current RFP (at least 2 senior CA
qualified members of the firm having experience of 10 years or more) 30%
4. Tax advisor of Govt./PSU/ Trusts/ Societies etc. 20%
It is clarified that prospective bidders scoring 70% and more in the Technical Proposal will be deem to
qualify for the final stage of the bid.
At the final stage, the financial bids of only technically qualifying bidding firms will be opened.
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