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ACCOUNTING & DISPOSAL OF SCRAPS AND CONDEMNED PLANT/MACHINERIES

ACCOUNTING & DISPOSAL OF SCRAPS AND CONDEMNED PLANT/MACHINERIES. Prepared by : IA.GSF. ACCOUNTING/DISPOSAL/SALE OF SCRAPS, PLANT & MACHINERIES. PURPOSE TO CLEAR UP BLOCKED CAPITAL & GENERATE REVENUE. TO REDUCE STORAGE SPACE & COST OF MAINTENANCE. ACCOUNTING/DISPOSAL/SALE OF SCRAPS.

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ACCOUNTING & DISPOSAL OF SCRAPS AND CONDEMNED PLANT/MACHINERIES

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  1. ACCOUNTING & DISPOSAL OF SCRAPS AND CONDEMNED PLANT/MACHINERIES Prepared by : IA.GSF

  2. ACCOUNTING/DISPOSAL/SALE OFSCRAPS, PLANT & MACHINERIES • PURPOSE • TO CLEAR UP BLOCKED CAPITAL & GENERATE REVENUE. • TO REDUCE STORAGE SPACE & COST OF MAINTENANCE.

  3. ACCOUNTING/DISPOSAL/SALE OFSCRAPS CATEGORIES OF SCRAP • SERVICEABLE SURPLUS-NOT REQUIRED BY FACTORIES. • REPAIRABLE STORES. • UNSERVICEABLE ITEMS. • SCRAP GENERATED BY PRODUCTION. • UNSERVICEABLE PLANT AND MACHINERY. • WASTE PRODUCTS LIKE COAL, ASH, SAWDUST ETC.

  4. AGENCIES FOR DISPOSAL • BY FACTORY • DGS&D THROUGH OF BOARD • METAL & SCRAP TRADING CORP.

  5. MODE OF DISPOSAL • ISSUE TO SISTER FACTORY • ISSUE TO MILITARY ORG, GOVT. DEPOTS & PSUS • ISSUE TO PRIVATE CONTRACTORS. • DISPOSAL BY PUBLIC AUCTION • DISPOSAL BY ADVERTISED TENDER ENQ. • DISPOSAL THRO DGS&D & MSTC.

  6. CONDEMNATION & DISPOSAL • PLANT & MACHINERIES • SERVICEABLE (THRO M.A.S) • REPAIRABLE • BEYOND ECONOMICAL REPAIR • MT VEHICLES • LIGHT VEH - 1,50,000 KMS/7 YEARS • VAN/TRUCK - ----DO---- • JEEP, TRUCK 1/1.5T ----DO---- • TRUCK 3/5/7/7.5 T 1,08,000 KMS/7 YEARS • TRACTOR/DUMPER 22,000/7 YEARS

  7. MATTERS INCIDENTAL TO DISPOSAL • GROUND RENT • BELATED PAYMENT • EARNEST MONEY • SECURITY DEPOSIT

  8. ACCOUNTING BY BRANCH AOs • VERIFICATION OF LIFTING ORDERS BY MATERIAL SECTION. • PREPARATION OF PUNCHING MEDIA. • VERIFICATION OF QUANTITY FROM ISSUE VOUCHER. • RECORDING SALE PROCEED IN THE SALE REGISTER. • ADJUSTMENT IN THE P.S.A OF DIFFERENCE OF RATE

  9. AUDIT POINTS • CHECK BIN CARDS. • CHECK RESERVE PRICE OF EACH ITEM. • CHECK REALISATION OF GROUND RENT. • CHECK IF LIFTING ORDER IS SHORT CLOSED. • OBJECTION MAY BE RAISED IN CASE OF METAL SCRAPS GENERATED ARE NOT SENT TO MSF FOR PROCESSING.

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