GEM Portal - Renit Advisors

GEM PORTAL

Government e-marketplace, commonly known as GeM, is a platform hosted by DGS&D for procurement of goods & services by the Government department. Public procurement has always been an essential part of government activities. The government’s intention behind introducing GeM was to enhance transparency, efficiency, and speed in public procurement.

GeM provides the tools of e-bidding, reverse e-auction, and demand aggregation to facilitate the government users, achieve the best value for their money. The list of entities who can register their business on the GeM portal is Proprietorship, Partnership, Limited Liability Partnership, Private Limited Company, Public Limited Company, Foreign Subsidiary Company, etc.

Advantages of sole proprietorship.

Less complaince and complexity – There is very less compliance in proprietorship business as compared to other types of business and minimal amount of complexity

Sole Ownership – There is single ownership of entire busniss and all the assets and liability belongs to proprietorship.

Easy to Establish with less Formalities:

Access to Mudra Laon Scheme of Government:

Privileged to choose any Name

Renit Advisors Proprietorship Firm Package

✅ MSME Udyam Registration

✅ CA Certificate

✅ TAN

✅ GST Registration

FREQUENTLY ASKED QUESTIONS (FAQS)

Who can Buy/Purchase through GeM?

All vital government and kingdom government ministries/departments including its connected/subordinate places of work, principal and state self sufficient bodies, vital and state public quarter gadgets and neighbourhood our bodies etc. are authorised to make procurement through GeM portal.

How do I process a payment on GEM Portal?

Basically there are two types of payments made on GeM portal – One is caution money and other is for vendor assessment. Caution money payment depends upon the turnover of an entity (starting from 5000). It can be made via cheque or payment gateway on GeM portal. Vendor assessment payment can be made through payment gateway available on GeM portal amounting Rs. 11,200 + 18% GST.

What is the meaning of RA in GeM portal?

RA stands for Running Account, which is generally used in contractual invoices where work is completely in multiple phases.

What could be the reason for variation in prices between GeM and other Marketplaces?

The variation in retail price and GeM Price of a product could be due to under mentioned factors:

What are the concessions on GST?

Certain Buyer organizations are eligible for concession on GST if goods for which bids have been invited fall under classifications for eligibility of concession are met by the institution.

What is OEM in GeM?

Original Equipment Manufacturers are termed as OEM in GeM portal. These OEMs are basically divided into four categories under GeM:

Manufacturer
Brand Owner & Third Party Manufacturer
Imported Products & Authorized Sellers in India
Service Provider

Can a trader register on GeM portal to supply any thing after purchasing a material from the manufacturer or only manufacturer is authorized to register to sell those items?

Both resellers as well as manufacturers are authorized to register on the GeM portal. Manufacturers have the authority to manage their resellers. In order to register as a reseller or trader, an authorization code as well as a letter is required from manufacturers to sell the product on the GeM portal.

How can I request for a change in specification of an existing category?

Buyers can request for change in the existing category from Request Management available in their Dashboard. All such requests would be evaluated by GeM.