<h1>GST Council to consider moving from four-rate GST to two slabs (merit 5%, standard 18%) and 40% luxury</h1> A central goods and services tax council will convene on September 3-4 to consider shifting from the present four-tier GST rates (5, 12, 18, 28 percent) to a proposed two-slab structure classifying supplies as 'merit' (5 percent) and 'standard' (18 percent), with a higher 40 percent rate for select ultra-luxury and sin goods. The council, comprising finance ministers of states, union territories and the Centre, will review recommendations from three Groups of Ministers on rate rationalisation, compensation cess and health and life insurance before deciding on reform and implementation modalities.