GST 2.0 reforms set to boost growth and ease compliance: Experts
Abhishek Majji, Assistant Commissioner–CGST, on Wednesday highlighted the role of tax and agricultural reforms in shaping India’s economic future. He explained that e-Invoicing, simplified registration schemes, and changes in agriculture are key steps toward AtmaNirbhar Bharat and Viksit Bharat.
At a session on GST 2.0 organised by the GITAM School of Business, GITAM (Deemed to be University), Mr. Majji outlined the new tax slabs. For example, he mentioned exemptions on health insurance and lower rates on essentials like groceries and household appliances. Moreover, he said the reforms aim to simplify taxation, reduce rates, and encourage inclusive economic growth.
Prof. Raja Phani Pappu, Dean of GITAM School of Business, added that the reforms focus on youth-centric sectors such as education, automobiles, technology, textiles, and food processing. He also said the changes help lower costs and foster innovation.
Furthermore, Dr. Radha Raghuramapatruni, International Business expert at GSB, said the reforms are likely to boost domestic markets and increase consumer spending. She noted that taxpayer registrations rose from 66.5 lakh in 2017 to 1.52 crore by mid-2025. This rise highlights the expanding role of technology in widening the tax base.
Similarly, Chartered Accountant and Central GST Committee member Ramakrishna Sangu described the reforms as a step toward inclusive growth, sustainability, and youth empowerment. However, he acknowledged that some policy challenges remain. Meanwhile, Gaurav Thakkar, CFO of Saradametals and Alloys Ltd., welcomed the rationalisation of GST slabs. He added that bringing many goods under the 5% rate simplifies compliance for the transport and trade sectors.
The session also included Dr. Kasturi Goodey, Area Chair of Finance; Dr. T. Venkateswarlu, Admissions Chair; and Ms. Khusboo Kumari, Assistant Professor, Department of International Business. In addition, scholars, students, and faculty members attended the event.