New Delhi, Sept. 5 -- In a landmark decision, the 56th GST Council meeting on September 3, 2025, approved sweeping tax reforms under "GST 2.0," reducing the number of slabs from four to three. The move - billed as the biggest overhaul since GST's launch - is expected to simplify compliance, increase disposable incomes, and kickstart a fresh consumption cycle across the economy.

The revised rates will take effect on September 22, 2025, the first day of Navratri.

"GST 2.0 should be viewed as more than just a tax rationalisation exercise - it is a structural reform with the potential to decisively shift India's growth trajectory toward a consumption-led cycle," said Manish Sonthalia, Director and CIO, Emkay Investment Managers.

He noted t...