e-auction for retail liquor vends from April 13
Apr 08, 2021
JAMMU: The e-auction for retail liquor vends in Jammu and Kashmir is expected to start from April 13, 2021 in terms of Excise Policy 2021-22.
According to the notice issued by the Excise Commissioner J&K, the e-auction is expected to start from April 13 for which registration is likely to commence on April 10 and the detailed schedule of e-auction is likely to be issued on April 9.
"The entire process of auction will be conducted in online mode and payments of participation fee, earnest money etc are to be made online through internet banking and credit cards only", he said.
"Some prospective bidders may not have adequate transaction limit arrangements to pay by online mode the prescribed fee of Rs 0.25 lakh and the Earnest Money Deposit (EMD) of Rs 5 lakh per location. For those intending to participate in bidding for more than one location in a one day, this requirement for transaction limits would be proportionately higher", the Excise Commissioner further said.
Besides, 50% of the license fee discovered in the e-auction has to be paid within 2 days and the balance within 7 days from the declaration of the result of e-auction for that location.
Given the short timelines, prospective bidders have been advised to immediate check their transaction limits to ensure these are adequate for their participation in the bidding process and complete the requisite documents mentioned in the Excise Policy 2021-22.