<h1>GST rate rationalisation to fewer slabs and eased compliance, lowering consumer costs and simplifying MSME obligations.</h1> Next-generation GST reforms propose tax rate rationalisation by consolidating multiple slabs into a reduced slab structure and imposing higher tax on select luxury and sin goods, while removing duty inversion in sectors like textiles, steel and cement. The reforms also emphasise administrative simplification through pre-filled returns, automated refunds and reduced compliance burdens for MSMEs, aimed at lowering household costs and advancing consumer welfare.