September 6, 2025

Hold on, India! GST, our tax superhero since 2017, is getting a massive makeover. The government has rolled out NextGen GST 2.0, the biggest shake-up yet. Imagine this: only two main tax slabs—5% and 18%—and a steep 40% on sin and luxury items. Sounds like a fresh breath of simplicity, right? Well, that’s not all. Essentials could become cheaper, and refunds might come flooding faster than ever before! But will this new GST salad truly satisfy the taste buds of consumers and businesses? On the popular show, The Morning Brief, host Anirban Chowdhury invited Bipin Sapra, the sharp mind behind Indirect Tax & Economic Policy at EY, to crack open this spicy tax dish. They explored juicy bits like tackling compliance headaches, solving inverted tax puzzles, and even the tug-of-war between Centre and states over revenue. “This reform is not just a tweak; it’s a game-changer,” said Bipin Sapra. They also discussed how these GST changes could flip spending habits, boost business margins, and give the whole Indian economy a fresh shot of adrenaline. But the big question remains: will businesses find compliance easier, and will consumers actually feel lighter bills? And what about exports—will they get that smooth green light to grow faster? India’s GST ride is about to get exciting and maybe a bit bumpy, but one thing’s clear: the tax world is buzzing like never before!

Read More at Economictimes →

Tags: Gst reform, Nextgen gst 2.0, Tax slabs, Indian economy, Tax compliance, Economic policy,