Hire income from agriculture farm equipments is taxable or not in indian gst

It is exempt vide notification number 12/2017 S No. 54(d)

Renting/leasing of agricultural machinery/equipment is exempted from GST vide Notification No.12/17-CT(R) dated 28.6.17 (conditions mentioned therein are to be fulfilled)

Since agricultural machinery/equipment is to be used for supplying exempted service, ITC is not admissible. If used for taxable output supply of service, ITC is admissible.