GeM Portal Registration

What is government e-marketplace?

The Government e-Marketplace or GeM is an e-commerce portal managed and operated by the government that aims to increase efficiency, transparency, and speed in the procurement of common use goods and services required by different government departments, PSUs, and organizations. It provides tools for online bidding and reverse auction. It also helps ensure that government users or officers get the best value for their money. To put it clearly, it is a one-stop destination that enables easy online purchase of goods and services.

What is the GeM registration?

Under the Allocation of Business Rules, 1961, the government established the GeM in the year 2017. On obtaining a GeM registration, you will have the benefits of smart trade and commerce offered by the government using an up-to-date and user-friendly dashboard. It comes with the ease of buying and selling goods and services, as well as the provision of a flexible and transparent return policy. The primary objective of the Government e-Marketplace is to ensure efficiency, transparency, and promptness in the public procurement of goods and supplies. SAI ENTERPRISES provides you full spectrum knowledge and services in terms of your GeM Registration and E-Marketplaces for your trading and servicing.

Now, what do you mean by public procurement?

For those wondering about what public procurement is, it is basically the process by which central and state governments and the public sector units purchase services and goods from manufacturers and traders. It involves government tenders. The government procurement of these supplies requires strict adherence to procedures to make sure that the purchase process is transparent, efficient, and prompt. In addition to this, it also helps to reduce the on-site usage of public resources.

Benefits of GeM registration for sellers

There are many advantages of obtaining GeM seller registration, including the following:
  • Direct and easy access to all government departments.
  • One-stop-destination for selling and marketing products up to Rs. 50,000 directly without bidding.
  • One-stop-shop for bids and reverse auction on services and products.
  • An excellent facility to recommend new products.
  • Dynamic pricing options that allow prices to be changed based on the supply and demand conditions in the market.
  • A comprehensive and easy-to-use dashboard for selling and monitoring your supplies as well as payments.
  • Uniform and efficient purchase procedures.
  • Unique benefits for startups with relaxed norms.

Advantages of GeM registration for buyers

There are a variety of benefits of acquiring GeM buyer registration, such as the following:
  • A complete listing of products for several categories of goods and services.
  • Availability of options to search, compare, choose, and buy the required supplies.
  • An easy and reliable way to purchase goods and services online as per the requirement.
  • Encourages transparency in transaction and facilitates ease of buying.
  • Comes with a continuous vendor rating system to ensure a fair marketplace.
  • User-friendly dashboard for buying supplies and managing the payments.
  • Provision of an easy return policy.

How to apply for GeM registration?

The following can register on the Government E-Marketplace to become a seller:
  • Traders or manufacturers.
  • Service providers.

The GeM registration process is quite straightforward, involving the following six simple steps:

  • Step 1: You need to provide the essential details and information about your business to the web portal.
  • Step 2: Then, discuss with our expert advisors on how to get GeM Registration to ensure you obtain it in a hassle-free way.
  • Step 3: We have qualified professionals who will assess and verify the validity of your documents and business details.
  • Step 4: Once all the details are vetted and verified by our experts, we will file the GeM Registration on your behalf.
  • Step 5: Following this, you will get a call from a government authorized agency for inspecting your place of business.
  • Step 6: Successful completion of the inspection of your business place, you may start selling your products and services on the GeM portal.

The differentiation of the different company structures is important to choose the right entity for you

Features Private Limited Company One Person Company Limited Liability Partnership Partnership Firm Proprietary Firm
Acts involved Companies Act, 2013 Companies Act, 2013 Limited Liability Partnership Act, 2008 Indian Partnership Act, 1932 No specified Act
Separate Legal Entity Yes Yes Yes No No
Registration Requirement Mandatory Mandatory Mandatory Mandatory No
Number of members 2 - 200 1 2- unlimited Feb-20 1
Liability Protection Limited Limited Limited Unlimited Unlimited
No. of Directors 02-May Jan-15 2 to unlimited Not applicable Not applicable
Statutory Audit Compulsory Compulsory Dependent Not Compulsory Not Compulsory
Foreign Direct Investment Yes No Yes No No
Annual Filings Income Tax Returns with the ROC Income Tax Returns with the ROC Filed with the ROC Filed with the ROC Filed with the ROC
Ownership Transferability Yes Yes Yes No No
Rate of tax Moderate Moderate High High Low