Indian households to experience a relief of 27 to 30% in taxes due to GST 2.0: Report

GST 2.0 will cut household taxes by 27–30%, easing budgets and making essential and discretionary items more affordable, according to a FICCI CASCADE-TARI report. The progressive tax structure benefits higher-income groups, supports MSMEs, and promotes formalisation. The number of items taxed at 5% has nearly tripled to 149, helping curb smuggling and counterfeit goods.