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Turnover Certificate for Tender

In India, a turnover certificate is a vital compliance document required to show your ability to financially fulfill a contract. Tendering Authorities, such as Government Departments, PSUs, Municipalities and Large Private Enterprises utilize this CA Certified Statement to confirm that bidders satisfy the minimum annual turnover levels established within the bid conditions. A clear and accurate turnover certificate provides technical compliance, but more importantly demonstrates the commitment of your company as an ongoing reliable contractor.

What is a Turnover Certificate for Tender

The tender turnover certificate is a written statement created by an active chartered accountant (CA) to prove your company's yearly revenue(s) related to bidding on tenders / contracts, covering a defined number of years. The turnover certificate confirms:

1. Actual turnover amount(s) (gross sales or contract revenue) for the years requested for evaluation;

2. That the revenue figure(s) are derived from your accounting records, audited/verified financial statements, tax returns, bank statements, and other verification documentation; and

3. An independent CA has reviewed and signed the turnover certificate, providing CA membership details and unique document identification number (UDIN).

Usually, there is a requirement for tenders to have a minimum threshold for eligibility, such as "average annual turnover of at least ₹5 crores for the last three financial years" and the turnover certificate is the main source of evidence for the evaluator to verify that the bid meets the minimum threshold.

Why Do Tender Authorities Require a Turnover Certificate?

Fiscal screening

Guarantees that only bidders with sufficient financial capacity, liquidity, and operational capability to execute the project at higher value levels will be allowed to submit bids.

Risk mitigation

Decreases the likelihood of project delays or unsuccessful completion because of undercapitalised vendors.

Transparency and fairness

Provides a level playing field through a consistent set of objective, documented criteria applied to all bidders.

Aligned to vigilance and procurement guidelines

Many of the regulations concerning the public procurement process, along with guidelines published by the CVC, specifically recommend or require that bidders provide a CA-certified turnover as part of their qualifications.
Please Note: Any technically sound proposal without a CA-certified turnover will be disqualified in the qualification process.

Key Information Included in a Turnover Certificate for Tender

Entity Details

Bidder’s legal name and type of business entity (i.e., proprietor, partnership firm, limited liability partnership (LLP), company, etc.)

Office Address

Bidder’s registered and principal office address

Registration Info

Business entity’s registration detail (PAN, GSTIN, CIN/LLPIN wherever applicable)

Business Profile

Business activities and, if applicable, “turnover from executing similar types of contracts as the subject matter of this tender”.

Financial Years

Years of financial statements (e.g. FY 21-22, FY 22-23, FY 2023-24).

Turnover Summary

For each year the bidder provided an annual turnover and in some instances the average turnover.

Step‑by‑Step Process for Getting a Turnover Certificate for Tender

Evaluate the Tender Conditions

Review the eligibility/qualifying requirements section of the Tender and note: - The number of years you are required to have been financially viable. - Is the average or the minimum turnover for a financial year required? - Does your turnover have to be for "all" services/works or does it only need to be for particular services/works? - Many tenders specify an annexure to be provided by the Chartered Accountant.

Utilise a Chartered Accountant

Engage a Chartered Accountant (CA) who is experienced in preparing and assessing tender documentation. Provide them with; - Your company profile - A copy of the Tender document or its relevant clauses - To certify which years are required for the turnover and if required, what percentage split is required between segments?

Provide Financial & Project Documentation

The tenderer must provide: The audited accounts, income returns & GST returns of the tenderer's organisation for the nominated years. Summaries of Projects turnover, Orders & Completion Certificates for every project for which turnover arising from similar works is requested. Provide clarification on any unusual items, disposal of assets or one-off income.

Verify & Calculate

The chartered accountant must: Extract a year-on-year analysis of turnover from the company's financial documents. Cross-reference the balance with GST returns and tax returns of prospective tenderers and follow up any discrepancies. Summarise and total the turnover of individual projects which meet the definition in the tender documents under "similar works", if applicable. Calculate the average annual turnover and/or any other calculations required for any acceptance criteria.

Drafting & Review

A draft turnover certificate is produced according to the format and wording of the tender. The bidder will confirm the: Entity Name, Address, and Identify if applicable Tender Reference and Name of Work Annual Total Turnover (TT) figures and period of time Any corrections, if any, must be based solely on Documented Evidence.

Final Certification & UDIN

Final Certification of Turnover by CA with CA UDIN (Unique Document Identification Number) is now required by most Authorities for CA Certificates; produce a scanned copy of CA final certificate, attach it to e-tender, keep a copy of original in case requested for physical verification in the future.

Documents Required to Obtain a Turnover Certificate for Tender

Your CA will typically review the following in order to duly certify your numbers:

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    Your audited balance sheets and profit and loss accounts for the years being certified.

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    Your income tax returns and computations for those years.

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    Your GST returns and reconciliations (GSTR-1 / GSTR-3B / Annual Returns) if registered.

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    Your work order and contract registers or project-specific revenues if the tender requests “turnover from similar works”.

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    Bank statements for major accounts to verify any significant incoming payments.

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    Any management or statutory auditor clarifications regarding any extraordinary items (i.e. one-off income not considered in turnover calculation).

Please Note: By keeping these records organised, you will significantly speed up the certification process and minimise the number of back-and-forths with your CA.

Benefits of a Professional Turnover Certificate for Tender

Compliance with Technical

Compliance with Technical

Guarantees the documents fulfil the required formality and do not get rejected due to lack thereof.
Evaluative Credibility

Evaluative Credibility

The company appears professional and financially secure when provided with a CA certified certificate.
Ease of Analysis

Ease of Analysis

Audit committees and Vigilance Teams can easily track revenue from audited accounts with proper authorization.
Quicker Preparation of Bids

Quicker Preparation of Bids

Having multiple years of standardized turnover certificate(s) on hand allows easy acceptance of recurring tenders.
Less Chance of Challenges

Less Chance of Challenges

Having transparent and verifiable figures means that there will be less potential for controversies or disqualifications.

A certificate is more than a checklist , it’s a reflection of your business integrity.With Sundram’s experience in financial analysis and Poonam’s focus on accuracy and process, we deliver audits and certificates that inspire confidence both internally and externally.Every report is personally reviewed by our founders, ensuring it’s clear, compliant, and credible.When our name goes on your report, it carries the weight of experience and honesty.

Please Note: With Patron Accounting, clients receive more than just compliance; they gain actionable insights to optimize inventory management, enhance profitability, and strengthen corporate governance.

Conclusion

Through the Turnover Certificate for Tender, there is a vital relationship between the financial capabilities of bidders and their eligibility to submit offers in India for Tender processes in the tendering system. Typically CA-certified and supported by an Examination of the Audited Financial Statements or a GST Return. The Turnover Certificate provides a verified indication of an organisation's annual revenue. Having this certified document provides the necessary support for evaluating tenders with a high degree of trust, transparency in procurement, and working towards greater success in winning contracts. Therefore, obtaining the Turnover Certificate in a timely manner will assist an organisation in complying with regulatory requirements, allow for greater presence and confidence in bidding for larger projects and create an organisation's market reputation 

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Frequently Asked Questions

Have a look at the answers to the most asked questions.

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Turnover certificates are required only where the NIT specifies minimum average turnover or minimum average turnover criteria; in those cases, the Turnover Certificate is typically provided by a Chartered Accountant (CA) in order to qualify technically.

Generally, you would be required to submit your final audited financials along with your Turnover Certificate. The Turnover Certificate provides the evaluators with a clear summary formatted according to their expectations.

Only CAs who are registered members of the Institute of Chartered Accountants and who have a valid membership can provide Turnover Certificates, and only when issued from their office on firm letterhead with a UDIN can it be accepted by the government and PSU authorities evaluating tenders.

It's true that a lot of bidding processes allow fresh companies to participate but still, they usually insist on having some minimum period anyway. Your financial advisor could provide proof of turnover for the years that are available, but it would depend on the NIT being lenient towards new businesses that are applying.

If the records are well-organized, even simple cases can be done in just 2–3 working days. The more complicated ones, for example, involving "similar work" analyses or reconciling discrepancies, might take longer, hence it would be wise to start the process sooner.
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