<h1>Two-slab GST rate structure proposed to simplify taxation, with special rates for select goods enabling rate rationalisation.</h1> The finance ministry proposes a two-slab GST rate structure-standard and merit-with limited special rates for select goods, aiming to replace the current four-tier framework to simplify taxation on common-man and aspirational items. The proposal ties rate rationalisation to fiscal space arising from the end of the compensation cess and envisages consideration by the GST Council following GoM recommendations, combining structural reforms, rate alignment and measures to improve taxpayer ease.