Puducherry Govt. issues Notice regarding Clearing of long outstanding payments of suppliers

Jan 13, 2022 | by TeamLease RegTech Legal Research Team

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Secretarial ComplianceThe Finance Department, Puducherry on January 10, 2022 has issued Notice regarding Clearing of long outstanding payments of suppliers against Contracts placed by various buyers/organizations on GeM Portal and updation all pending payments on the Portal.

The following was stated namely: -

• Non-Compliance with payment terms on GeM and delayed payment by buyers to suppliers. This can lead to a situation that bonafide sellers reduce supplies and/or raise prices. This would hurt the general interest of buyers.

• For ease in updating offline payments, GeM has created a bulk payment updation facility where the buyer, instead of updating individual order payment position, can upload an excel sheet specifying payment status of all order in bulk.

• This may be done positively by the end of January, under intimation to the Finance Department.

 

[Notification No. 16016/FD/F3/2018(Part)]

 


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