<h1>Minister consults traders on next-generation GST simplifying rates to two slabs (5% and 18%), 40% on ultra-luxury</h1> A union minister met traders at a major city wholesale market to solicit feedback on the government's next-generation GST reforms and to promote locally produced goods; officials affixed promotional stickers at shops. The reforms simplify the GST rate structure from four slabs to two main slabs (5% and 18%), impose a 40% rate on ultra-luxury items, and keep tobacco and related products in the highest bracket with cess. Government representatives asserted the changes lower prices of everyday goods and provide relief to shopkeepers and consumers, while the revised structure alters tax incidence and compliance considerations for affected sectors.