GST RATE ON LATERALS, PARTS OF SPRINKLERS AND DRIP REDUCED TO 12%

The GST Council has reduced the tax rate on laterals, parts of sprinklers and drip irrigation systems from 18% to 12%.

This move is expected to benefit farmers and promote the use of efficient irrigation systems.

Earlier, the tax rate on these items was 12% for drip irrigation systems and 18% for other items.

The reduction in tax rate will make these items more affordable for farmers and encourage them to adopt modern irrigation techniques.

This move is in line with the government's efforts to promote sustainable agriculture and increase farmers' income.

The reduction in tax rate will also benefit manufacturers and suppliers of these items, as it will increase demand for their products.

The new tax rate will come into effect from 1st July 2021.