Price Schedule

A Price Schedule is the structured financial proposal document in an Indian government goods or services tender into which the bidder enters unit prices, applicable taxes (GST), and other charges for each listed item, forming the basis for L1 determination and ultimately the Supply Order price.

What is a Price Schedule?

In goods procurement and services tenders, the financial bid equivalent of the BOQ (used in works) is the Price Schedule. The procuring entity provides a standard Price Schedule format (in the tender document or embedded in the portal) listing all items to be supplied or services to be rendered, with columns for: Item Description, Unit, Quantity, Unit Price (exclusive of taxes), GST Rate (%), GST Amount, Other Charges (freight, installation if applicable), and Total Price.

The Price Schedule is the document that goes into Cover 2 (financial cover) in a two-cover bid. It must contain no information beyond pricing, putting any qualification documents, company letterheads, or technical references inside the Price Schedule file can result in rejection if the financial cover is opened before technical evaluation and reveals the bidder's identity.

On GeM, the Price Schedule equivalent is the item pricing entered in the bid response on the portal, the seller enters per-unit prices and the platform calculates taxes and totals automatically. For CPPP-based procurements, the Price Schedule is usually a downloadable Excel template or a portal-based form with identical functionality.

Why Price Schedule matters for Indian government suppliers

The Price Schedule is the single document that determines L1 and the contracted price. Errors in the Price Schedule, incorrect GST rate, transposed digits, missing line items, directly affect the evaluated price. Over-quoting due to calculation errors loses the bid; under-quoting due to omission creates a loss-making contract. Always independently verify the Price Schedule total against your internal cost estimate before submission. The unit price in the Price Schedule becomes the rate at which all subsequent supply orders are placed.

Example

A stationery supplier bids for an annual rate contract for 45 stationery items. The Price Schedule template has 45 rows with item descriptions, specifications, and annual estimated quantities. The supplier fills in unit prices: A4 paper ream at Rs 185, ballpen box at Rs 42, etc. GST is auto-calculated at 12% for paper and 18% for most stationery. Freight charges are included in unit prices (delivery DDP to consignee). Total Price Schedule value: Rs 8.4 lakh inclusive of GST. After submission, this Price Schedule becomes the rate card; all purchase orders placed during the contract year use these exact unit rates.

Frequently Asked Questions

Should GST be included or excluded in the Price Schedule?

Government tender Price Schedules require quoting exclusive of GST (supply price) plus GST separately in a dedicated column. The evaluated price for L1 comparison typically includes GST (total landed cost). Always specify the applicable GST rate and amount separately, quoting a single inclusive price without separating GST is non-compliant on most government tenders.

What is the difference between Price Schedule and BOQ?

BOQ is used for works contracts (construction, installation) with item-wise unit rates linked to measured quantities executed. Price Schedule is used for goods supply and service contracts with item-wise prices linked to supply of defined quantities. Functionally both serve the same purpose, financial comparison across bids, but the terminology differs by contract type.

Can freight charges be included in the unit price on a Price Schedule?

It depends on the tender terms. Some tenders specify "DDP (Delivered Duty Paid) to consignee" pricing, requiring freight to be included in the unit price. Others specify "ex-works" pricing with freight quoted separately. The ITB and Price Schedule format specify the delivery terms; price the Price Schedule exactly as specified.

What happens if two bidders have the same total Price Schedule value?

A tie on total evaluated cost is rare. If it occurs, the procuring entity applies a tie-breaking rule specified in the ITB or NIT, typically preference to the MSME, then to the larger local content percentage, then (rarely) to a lot draw. The specific tie-breaking rule must be read in the ITB before relying on it for commercial strategy.