GST 2.0: India’s bold tax overhaul and its hidden costs
India has introduced GST 2.0, cutting rates on items from food to cars while consolidating slabs into 5% and 18%. Luxury goods now face a 40% rate. Experts warn the transition could squeeze industries holding higher-taxed stock and strain revenues by ₹48,000 crore. Questions remain on cess, inverted duties, compliance, and pending reforms in fuels and services.