MUMBAI METRO LINE 3
Advance Bills: Advance bills are prepared for Mobilizationof P&M on site, so that afterwards, RA bills can be prepared. It includes-Mobilization Advance This is based on the work we are giving to other sub-contractors. It is generally about 10 to 15% and maximum of 20% of contract cost. General Advance- It includes Bank Guarantee Postdated cheque Recovery of mobilization advance & P&M advance starts when 20% of project is completed as major works are carried out by P&M. It is completely recovered when around 65% of project is completed. RA Bills: It is made by contractor at site and then, it is compared with sub-contractor working.It includes following things: Measurement sheets- Prepared at site and signed by GC representative.Reconciliation sheet, for reinforcement or concrete consumptionSummary sheet Taxes paid during RA Bills: GST [GOODS AND SERVICE TAX] (18%) of goods value Escalation Bills: Generally carried out for Diesel, Concrete, Steel, P&M, Labour. It is claimed when rates of all these items change above 20% & their substantial usage of same. This is covered from: Profit obtained, by selling steel scrap to authorized recyclers Adding wastage to price of steelThe difference between both will add up to tender quoted by MMRC and DSJV.Recovery of Income taxes and other advances: the recovery of taxes and advances are done by the clients from every month payment, done to the contractor payment. t includes deduction of Labour cess (1%), Education cess (3% of TDS and Surcharges), TDC (5%), Surcharge (1%), Mobilization advance (5%) from every month
Figure 65: BILLING FLOWCART
SUBMITTED BY: BHUMIKA RAJ UC5316
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