Published on:
February 6, 2023
Riddhi Thakrar

What are the benefits of using the GeM Portal

This Government e-Marketplace (GeM) portal functions as a one-stop shop for the internet shopping of basic items, but rather than, facilities rendered by different government agencies, organizations, or PSUs (Public Sector Units).

The GeM site was created by the commerce ministry to provide transparency in the antiquated government procurement tendering process used by government entities. Public procurement is the method used by government organizations and state-owned firms to get the products and services they need from businesses and corporations.

The GeM website aims to increase the efficiency, transparency, and quickness of public procurement in addition to inclusivity. It provides the tools of alternative e-auction, e-bidding, and requirements gathering in order to assist government customers as well as purchasers in getting the best value for their available funds.

The main objective of the GeM portal is to make it simpler for government organizations to locate suppliers of services and products that satisfy their demands for quantity, quality, provenance, and timing. Government users and sellers must appropriately identify as buyers and sellers in order to receive the advantages of the digital GeM platform and Advantages of Gem Registration.

Benefits of GeM Portal to the purchasers

GeM Registration Has Several Advantages. These are what they are:-

1. Provides transparency and different products for each unique category of goods and services.

2. Among different providers, an analysis of costs and industry trends.

3. An easy-to-use platform for finding, selecting, evaluating, and buying.

4. A straightforward dashboard to monitor payments and transactions

5. Multiple consignees may be selected when using services.

6. The buyers may make additional exclusions at some point during bill production.

7. Giving a straightforward return policy

Benefits of GeM portal for the vendors

The seller may enjoy the following benefits of GeM portal when they are a part of it. They are as follows:

1. Vendors have access to the exact same marketplace for contracts with the federal government.

2. There is no charge or fee for registration.

3. For a little purchase, many bills were used, the vendors would be able to determine the causes if the recipient rejects the goods for any reason now you get quick access to bidding and reversal auctions.

4. At the time of bid participation, sellers of Jammu and Kashmir and the North-East nations are excluded from making ITR payments.

5. Going directly to governmental departments of an organization.

6. The price may vary according to the situation of the market.

Using the GeM portal

Only the primary components are responsible for establishing their companies primarily on the GeM portal, despite the fact that they cannot participate in the purchase. These multiple users must be assigned tasks and responsibilities, have user profiles established for them, and be in total control of every activity on the portal.

These purchasers are, in fact, secondary users for the purposes of this organization's purchasing. The major user, however, might also be the consignor of a business or commodity. The secondary customers on the GeM website are those in charge of largely purchasing, including collecting shipments, carrying out contracts, and repaying vendors.

The secondary user may be given the roles of a buyer, consignee, Drafting and Distributing Officer (DDO), payment agencies, etc. by the genuine user. The purchaser is the person in responsible for overseeing procurement processes up until the buy request stage. The consignee would function as the secondary user responsible for collecting the acquired goods and verifying acceptance at the purchasing organization.

Following Gem registration on the GeM platform, sellers are required to offer their products and services underneath the defined categories. Prior to sending the goods to the destination, they must enter the details of every approved order onto the website.

The vendor could be an OEM (original equipment manufacturer) or a business that is authorized to sell goods made by the OEM on the open market and is extremely familiar with Gem. OEM is short for original equipment manufacturer. It describes the people who are the true manufacturers of the branded or copyrighted goods that are typically sold on a website.

Vendors on that GeM platform can be existing corporations, startup companies, or lone proprietors. On the website, businesses are able to offer their goods for acquisition by government entities and participate in governmental bids and tenders. Therefore, using the GeM site encourages openness within the government's process for public purchasing.


Analysis Procedural Aspects for Composition Levy under GST
How is GSTR-1A different from GSTR-1?

Updated on:
March 10, 2023