GST 2.0 Big Reform | Prices Of Cars, Cement, Ghee To Drop?

India is preparing for a landmark GST 2.0 reform that could directly impact your household budget and the broader economy. The government plans to simplify GST into just two main slabs — 5% and 18%, replacing the current multi-slab structure. Essentials like ghee, butter, and other daily-use items currently taxed at 12% may shift to the 5% bracket, giving relief to households. Big-ticket items such as automobiles and cement, now taxed at 28%, are expected to move to 18%, making them significantly cheaper. Luxury and sin goods will continue to attract a special 40% rate. While economists foresee a minor GDP impact, the government believes higher consumption will offset revenue losses, boosting growth and industries alike. Business Today's Karishma Asoodani brings you the detailed report.