Rule 220 - Auction Disposal | KartavyaDesk

Original Rule Text

value) should immediately be taken on the spot from the successful bidder either in cash or in the form of Deposit-atCall-Receipt (DACR), drawn in favour of the Ministry or Department selling the goods. The goods should be handed over to the successful bidder only after receiving the balance payment. (v) The composition of the auction team will be decided by the competent authority. The team should however include an officer of the Internal Finance Wing of the department Rule 221 Disposal at scrap value or by other modes. If a Ministry or Department is unable to sell any surplus or obsolete or unserviceable item in spite of its attempts through advertised tender or auction, it may dispose of the same at its scrap value with the approval of the competent authority in consultation with Finance division. In case the Ministry or Department is unable to sell the item even at its scrap value, it may adopt any other mode of disposal including destruction of the item in an eco-friendly manner. Rule 222 A sale account should be prepared for goods disposed of in Form GFR 11 duly signed by the officer who supervised the sale or auction. Rule 223 (1) Powers to write off. All profits and losses due to revaluation, stock-taking or other causes shall be duly recorded and adjusted where necessary. Formal sanction of the competent authority shall be obtained in respect of losses, even though no formal correction or adjustment in government accounts is involved. Powers to write off of losses are available under the Delegation of Financial Powers Rules. Rule 223 (2) Losses due to depreciation : Losses due to depreciation shall be analysed, and recorded under following heads, as applicable :- (i) normal fluctuation of market prices; (ii) normal wear and tear; (iii) lack of foresight in regulating purchases; and (iv) negligence after purchase. Rule 223 (3) Losses not due to depreciation : Losses not due to depreciation shall be grouped under the following heads :- (i) losses due to theft or fraud;

What This Means

This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.

Key Points

• •Deals with the disposal of surplus, obsolete, or unserviceable government items.
• •Requires immediate deposit (cash or DACR) from the successful bidder at auction.
• •Balance payment must be received before handing over the goods.
• •Competent authority decides the composition of the auction team, including an officer from the Internal Finance Wing.

Practical Example

This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.

Frequently Asked Questions

This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.