<h1>Government announces next-generation GST overhaul: slabs consolidated mainly to 5% and 18%, shifting items, projecting Rs 2 lakh crore stimulus</h1> A senior government official announced next-generation GST reforms consolidating tax slabs to primarily 5% and 18%, shifting most items from 12% to 5% and many from 28% to 18%, and projecting a fiscal stimulus of about Rs 2 lakh crore through increased consumer cash flow. The reforms are presented as expanding the taxpayer base and boosting compliance, with reported growth in GST collections and registered taxpayers since the tax's inception. The measures indicate significant statutory tariff restructuring with potential administrative, revenue-collection and compliance implications for businesses and taxpayers.