India, Sept. 8 -- As news filters in, and clarification pour in, GST 2.0 is unravelling into GST 0.0. It seems that new much-touted reforms are akin to robbing Peter to pay Paul, as well as robbing both to partly-pay both. At one level, a lot of products and services that were earlier in the 28 per cent bracket, which is now abolished, have shifted to the higher sin tax (40 per cent) one. Indeed, this bracket, which was originally conceived to have a handful of items, maybe seven or 10, has many more. Once the detailed notification comes out, as some trade experts warn, the sin tax may become a residual haven for any product that does not find a mention in other brackets.

While many products now attract lower GST, zero per cent instead o...