Editorial: Pass on GST benefits to consumers

While the sweeping reduction of GST rates is a welcome move, the Centre must also address the legitimate concerns of the States over the potential revenue losses

In the midst of trade tensions with the United States, the drastic Goods and Services Tax (GST) rate cut has brought much-needed relief to the consumers ahead of the festival season. The long-delayed GST reforms have finally taken effect and will hopefully help in reviving consumption, boosting confidence, and nudging Indians toward a self-reliant economy. Framed by the central government as ‘Bachat Utsav’ – savings fest –, the reduced GST rates could have a transformative impact on the economy because India has never had such low indirect taxes before. However, the success of the GST 2.0 would depend on how quickly the compa