There has been an improvement in terms of GST price benefits received by consumers on food products, LocalCircles’ latest survey capturing the second week of implementation of GST 2.0 reforms shows. The new tax reforms were introduced on September 22. The second week corresponds to the week starting September 29.

Sharp uptick in food, slow progress in Medicines

40% of consumers said they received the full benefits of the GST rate reduction on food versus 10% in the first week. The number in the case of medicines has improved marginally to 16% in week 2 from 10% in week 1. As far as consumer durables goes, 23% of consumers surveyed said they had received the full benefit of rate reduction in week 2 versus 34% in week 1.

High-value items see uneven benefit transmission

On vehicles, t

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