There will no GST on sales of finished goods by the existing local SSI units till 31.03.2003 and for a period of five years from the date of production in case of new SSI units except on items brought on the negative list.
There will no GST on sales on the raw material procured by the local SSI, medium and large units except on items brought on the negative list.
There will be no GST on the sale of finished goods manufactured by the new medium and large industrial units upto a ceiling on such amount of GST which would have been otherwise payable equivalent to 150 per cent of the total capital investment made in the unit or for a period of five years form the date of production whichever occurs earlier, except on items brought on the negative list.
There will be no GST on purchase of machinery and equipment for construction of the factory for a period of five years form the date of provisional registration by the SSI units.
The above concessions shall also be available to SICOP while acting on behalf of local registered SSI units.