<h1>GST reforms cut rates, simplify registration, and share surplus cess to benefit farmers, MSMEs, small traders, and low-income households</h1> State and central governments announced GST Council approvals and reforms intended to reduce rates and simplify compliance, targeting benefits for farmers, MSMEs, small traders, tribal communities and middle- and lower-income households. Measures include tax relief on life and health insurance, agricultural inputs, farm machinery, life-saving medicines, and reduction or merger of items subject to compensation cess with a proposed abolition date; surplus cess funds to be shared 50:50 between Centre and states on a GST revenue-share basis. Proposals also include rate rationalisation (e.g., reducing tax on kendu leaves), simplified GST registration for low-risk small businesses, and steps to lower costs and improve access to insurance and medicines.