Why We Take Advance Payment — A Professional Perspective One of the most common questions clients ask is, “Why do you take an advance payment before starting the work?” It’s a fair question — and the answer goes beyond financial security. Advance payment is a professional practice that benefits both the client and the service provider. It builds commitment, focus, and accountability on both sides. Below are the key reasons why we follow this approach: 1. Encourages Seriousness and Active Participation When an advance is paid, both parties automatically become more engaged in the process. Clients show genuine interest and involvement, while our team becomes even more dedicated and focused on that particular project. This mutual seriousness ensures that the work moves forward efficiently without unnecessary delays. 2. Improves Focus and Service Quality Advance payment gives our team the confidence to allocate time, attention, and resources specifically to your project. It...
https://assets-bg.gem.gov.in/resources/pdf/Annual_Report_2022_23_Revised_GEM.pdf
To the Government of India It is my privilege to forward this Annual Report of the Government EMarketplace (“GeM”) for the Financial Year 2022-23 to be laid before both the Houses of Parliament. This report contains the information required to be forwarded to the Government of India under the provisions of Section 394 of Companies Act, 2013. This report includes an overview of business affairs and working of GeM and the functionalities assigned to it. The audited Annual Statement of Accounts of GeM is also part of this report.
P.K. Singh
Chief Executive Officer & Director.
AN INTRODUCTION TO THIS REPORT
Reporting Period
This is the sixth Annual Report of GeM for the period between 1 April 2022 and 31 March 2023 and is released annually. The last Report was released for FY 2021-22.
The Report provides a comprehensive overview of the company’s performance and progress over the past year. It includes quantitative and qualitative disclosures on material topics, such as statutory disclosures, financial performance, social responsibility, and our relationship with the stakeholders. It also describes our strategy, leadership commitment and culture that celebrates people, performance and purpose.
The financial and statutory data disclosed in the statutory sections of this report meet the requirements of the Companies Act, 2013 (including the rules made thereunder) and all other applicable Standards and Regulations as may be applicable. Auditors’ Report The Auditors’ Report for fiscal 2023 from Chandiwala Virmani & Associates, Chartered Accountants (ICAI Firm Registration Number 000082N) does not contain any qualification, reservation or adverse remark. The Report is enclosed with the financial statements to this Annual Report. Management Review
This Annual Report has been reviewed and approved, for publication, by the Management of the Company.
Feedback Share your feedback about the report to cs01-gem@gov.in .
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