New Delhi, Oct. 31 -- India's goods and services tax (GST) regime, launched in 2017, promised a unified tax structure to streamline business operations and boost economic growth. Fast-forward to 22 September 2025, when GST 2.0 rolled out as the most significant overhaul yet.

This reform slashed tax slabs from six to mainly two-5% and 18%-eliminating the 12% and 28% brackets, while introducing a 40% rate for luxury and sin goods. The changes aim to curb inflation, enhance compliance and stimulate consumption by reducing costs of essentials and intermediate goods.

Items like household appliances and food staples now attract just 5% GST, potentially saving households up to Rs.5,000 annually on average spends. Manufacturing and retail busin...