GST on Drip Irrigation Products reduced from 18% to 12%
The GST on Drip irrigation systems including laterals, sprinklers products has been reduced from 18% to 12% as per decision taken at 25th GST Council Meeting held on 18th January, 2018. The new GST rates shall be effective from 25th January, 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 positive impact in the upcoming busy season for our Drip Irrigation Division.
About Jain Irrigation:
Our Company, Jain Irrigation Systems Limited (JISL) with it"s motto "Small Ideas, Big Revolutions" with more than 10,000 associates worldwide and revenue of over 60 billion rupees, is an Indian multinational company with manufacturing plants in 28 locations across the globe. It is engaged in manufacturing of Micro Irrigation Systems, PVC Pipes, HDPE Pipes, Plastic Sheets, Agro Processed Products, Renewable Energy Solutions, Tissue Culture Plants, Financial Services and other agricultural inputs since last 34 years. It has pioneered a silent Productivity Revolution with modern irrigation systems and innovative technologies in order to save precious water and has helped to get significant increase in crop yields, especially for millions of the small farmers. It has also ushered in new concept of large scale Integrated Irrigation Projects (IIP). "More Crop Per Drop™" is the company"s approach to water security and food security. All the products & services of JISL help create sustainable future while fulfilling its vision Leave this world better than you found it. JISL is listed in NSE-Mumbai at JISLJALEQS and in BSE at code 500219.
The information in this release has been included in good faith and is for general purposes only. It should not be relied upon for any specific purpose and no representation or warranty is given as regards to its accuracy or completeness. No information in this press release shall constitute an invitation to invest in Jain Irrigation Systems Limited. Neither Jain Irrigation Systems Limited, nor their affiliates" officers, employees or agents shall be liable for any loss, damage or expense arising out of any action taken on the basis of this release, including, without limitation, any loss of profit, indirect, incidental or consequential loss.