September 18, 2025
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Next Gen GST reforms simplify compliance and cut tax burdens, expanding exemptions and relief for consumers and small businesses.
Next Gen GST reforms simplify compliance, reduce rates, and target relief to the poor, middle class, farmers and MSMEs, with rollout timed to the festive season to benefit local purchasers and industries. The package narrows rate architecture to two principal slabs and provides a specific exemption for individual life insurance policies, including term, unit linked and endowment plans and related reinsurance, while highlighting sectoral relief for handicrafts, agricultural products and small scale manufacturers.