MUMBAI, (GNI): 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 position impact in the upcoming busy season for our Drip Irrigation Division, according to the press release.
About Jain Irrigation Systems Ltd. Our Company Jain Irrigation Systems Limited (JISL) with its motto ‘Small Ideas, Big Revolutions’ with more than 10,000 associates worldwide and revenue of over 60 billion rupees, is an Indian multinational 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 get significant increase in crop yields, especially for millions of 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 good security. All the products and 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. Please visit us at www.jains.com