Watch Our Live Call Update: GST rate on drip irrigation products reduced from 18% to 12%, Jain Irrigation gains 4%- 19 Jan 2018

Friday 19 January 2018

GST rate on drip irrigation products reduced from 18% to 12%, Jain Irrigation gains 4%- 19 Jan 2018

Jain Irrigation Systems stock is up 4% on the back of the news that the GST rate on Drip irrigation systems including laterals, sprinklers products has been reduced from 18% to 12% as per the decision taken at 25th GST Council Meeting held on January 18, 2018. The new GST rates shall be effective from January 25, 2018.The company has decided to pass on this benefit of 6% directly to the customers/farmers. This is a positive step taken by the Government to encourage farmers to invest in efficient irrigation systems which saves water and improves productivity. We estimate that this action will have a positive impact in the upcoming busy season for our Drip Irrigation Division, according to the press release.

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