GST 2.0 can reduce household tax bills by 30%: Report
Good news for Indian families—GST 2.0 is expected to cut household tax bills by 27-30%, according to a report from FICCI CASCADE and Thought Arbitrage Research Institute.
The updated Goods and Services Tax now lowers rates on both everyday essentials and non-essential items, giving a real break to low- and middle-income groups.
More products in lowest tax bracket
GST 2.0 bumps up the number of products in the lowest (5%) tax bracket from 54 to 149, so more things get cheaper.
The system is now more progressive, meaning higher earners pay a bigger share, which helps ease costs for regular people and small businesses.
Plus, these changes are designed to make prices fairer across the board—cutting down on smuggling and fake goods—while pushing India closer to a unified, modern economy.