Published Paper Details:

GST 1. O refers to the GST which was implemented on 1st July 2017. GST 2. O refers to the GST reforms which were implemented on 22nd September 2025 following the 56th GST council meeting, held on September 3, 2025, in New Delhi where the proposals like automated refunds, GST Appellate Tribunal, Simplified Registration, Place of Supply Rules, Simple rates of GST were approved. GST rates on 33 Life savings, Health Insurance Scheme, Essential Commodities, Education and Automobile products were reduced and the tax rate on luxury and sin goods was kept higher than previous tax rates. The study aims to find whether it will be beneficial to the consumers and producers. The study will also provide insight into whether GST 2. O will increase the domestic consumption of goods & services and collection of tax by the government. The research is based on exploratory research methods. It was found that GST 2. O will increase domestic consumption in future and business will expand due to easy compliances with GST 2.O, though it may have the possibility of short-term revenue loss for the Indian Government. In the long-term, the Indian economy will be benefited.