The GeM portal or the government e-marketplace is an online trading centre, where people can buy and sell products hassle-free. GeM portal provides a hassle-free experience to buyers and sellers as it does background checks and has a list of documents and eligibility criteria needed for people to be able to join the portal. Only when the criteria are matched can someone be a vendor or a buyer on GeM.

The portal is popular as its eligibility criteria remove all chances of malpractice. There can be no loopholes as complete transparency on the portal is maintained during buying and selling. Goods can be tracked. Deadlines and timelines have to be met to stay on the portal to avoid getting blacklisted.

The GeM portal is always upgrading itself to remove any loopholes and to provide a better experience to the buyers and sellers on it. Here are the latest updates on the portal that you should not miss.

BOQ  Bidding with Multiple Evaluation Methods :

The portal provides a variety of evaluation methods to choose from for its buyers and sellers. These can be item-wise, value-wise, or group-wise.Splitting and preference selection can be done with easy steps. Buyers can now put their selected products in one place which is called a schedule. Sellers can participate in this schedule at their own convenience. 

Input Tax Credit ITC Reverse Charge Mechanism RCM :

Investors and stakeholders can now find the lowest evaluated bidder with ease using an automated implementation mechanism on the basis of ITC using FCM Forward Charge Mechanism RCM Reverse Charge Mechanism. Buyers can select the tax credit percentage available in the GST for the benefit of the stakeholders. Through this method, the buyer is directed to the lowest bidder without doing any intense calculation which saves them both time and effort.

Provision for Uploading Technical Evaluation Report :

The facility to upload this report in detail has been provided to the buyers for both goods and services. This helps buyers jot down their buying experience, factory visits, etc. and easily place comparisons on record.

Provision for the Buyback :

GeM portal has introduced a buyback feature that allows buyers to replace an old item with its newer version. This can be done with the permission of a competent authority.

ReRun Option :

If there are multiple bidders for a particular bid the buyer will have to select the  Run L1 selection feature which will enable the system to randomly pick an L1 seller. The randomly selected seller will have to confirm within 72 hours if it is willing to take up the contract. If the bidder says no or does not reply, the system will Re-run L1 till the L1 selected bidder says yes to the contract execution.

MSE Functionality in Services :

GeM portal will now implement MSE preferences. Central government buyers will have to upload an approval for bypassing MSE and state government buyers can also select MSE preferences through selection options. MSE preference will be provided on total value including the add-on and based on that price matching will be done on the total value.

Bid offer Validity Extension :

The validity extension offer can be sent from the buyer to the seller during the technical and financial evaluation stage.

Bid Validity Extension :

Buyers can now extend bids without any restriction as the earlier period of 69 days has been removed. Buyers can now seek this from sellers before contract creation.

Split in Bid to RA :

This is available for buyers during bid creation.

GST  in Bid :

GST  input is taken from the seller during bid participation. This remains fixed and no changes can be made during RA.

Custom bids :

Buyers can customize the bid end date up to 10 days in the system.

For any more assistance with the new features on the GeM portal or tender filling and bidding processes, contact National Tenders and their expert team.