GST 2.0 Reform Sparks Political Debate Amid Price Reductions

In a pointed critique, Delhi Aam Aadmi Party (AAP) President Saurabh Bharadwaj on Monday condemned the Bharatiya Janata Party (BJP) for the initial implementation of GST eight years ago, urging the Center to acknowledge its mistakes. Bharadwaj emphasized that the opposition's warnings about adverse effects on small businesses and economic slowdown have materialized.

Adding voice to the criticism, Congress leader Bhupendra Singh Hooda questioned the government on potential refunds for GST collected over the past seven years. Hooda pointed out the pressing need for further GST relief to assist everyday citizens, questioning the government's foresight and demanding evaluations of ongoing reforms.

The recently approved GST 2.0 reforms, effective as of September 4, streamline the former four-tier system into a two-slab regime. Essential commodities now benefit from reduced tax rates, potentially easing household expenses. Meanwhile, major FMCG brands such as Amul and Mother Dairy have announced price cuts, passing GST savings onto consumers.

(With inputs from agencies.)