The Core Report #670 GST 2.0 Reforms India’s Bold Tax Move & the Hidden Fine Print | Govindraj Ethiraj | The Core Report
In this Weekend Edition of The Core Report, Govindraj Ethiraj sits down with S Ramesh, former CBIC Chairman, and Krishan Arora, Head of Indirect Tax at Grant Thornton Bharat, to decode India’s bold new GST reforms.
From slashed rates on food, cars, medicines, and apparel to a tough new 40% slab on luxury goods, GST 2.0 is rewriting the rules of consumption and business. But what does it mean for FMCG, pharma, auto, airlines, and insurance? And how will India tackle the ₹48,000 crore revenue hit, stock transitions, and compliance challenges?
What you’ll learn:
How GST 2.0 reshapes demand across key industries
Why hidden costs like cess & inverted duties still matter
What businesses must know about tribunals & disputes
The unfinished agenda: services, ATF, natural gas & more
A sharp, no-fluff breakdown of India’s biggest tax reform in years — essential listening for business leaders, policymakers, and anyone tracking the economy’s next chapter.
- (00:00) Introduction
- (02:20) TAKEAWAYS FROM NEW GST REFORM
- (08:00) Industry Impact: Passing the Benefits?
- (11:50) Transition Challenges: Stocks & ITC
- (14:26) CBIC approach in the past
- (18:45) Reforms: Appellate Tribunals
- (20:30) Unfinished Agenda: Services & Exemptions
- (28:45) The Road Ahead: Next-Gen GST
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