GST 2.0: India’s New Tax Era Through Industry Eyes
India’s GST Reforms 2.0, launched in September 2025, mark a pivotal moment for indirect taxation. These changes simplify the tax structure with just two main GST slabs 5% and 18% moving essentials and household goods into lower brackets while ensuring a rational approach for luxury or “sin” Goods with a 40% rate. The reforms were designed not only to make compliance easier, but also to give a practical boost to consumers, small businesses, and manufacturers.
Rajneesh Kumar, Board of Directors for Flipkart, emphasized the transparency and consumer orientation of rate cuts, focusing on how lower prices for daily essentials and a more predictable GST regime create tangible benefits for households. His perspective highlights the festival season’s “GST Bachat Utsav” as a trust-building initiative between businesses and consumers.
Subhrakant Panda, President of FICCI, called GST 2.0 a “big bang move” that is expected to spur demand while simplifying processes for manufacturers and exporters. He believes the reforms signal a maturing tax regime, supporting India’s self-reliance and competitiveness.
Mukesh Mohan Gupta, a key MSME leader, sees GST 2.0 as instrumental in supporting small businesses and expanding the formal tax net. He notes the reforms will likely boost growth, streamline compliance, reduce costs, and help pull more enterprises into the organized sector, promising a broader economic uplift.
While GST 2.0 promises to ease living costs and simplify tax compliance, its real success will depend on effective implementation and transparent participation from all sections of the economy. Most analysts agree that, rather than a promotional campaign, these reforms represent a practical step in India’s journey towards a more competitive, predictable, and inclusive tax environment.
