New Delhi, Sept. 22 -- The launch of GST 2.0, dubbed "Bachat Utsav" (Festival of Savings) by Prime Minister Narendra Modi, has sparked a heated debate between the Centre and the Opposition.

While the government hails it as a landmark reform, the Opposition criticises it as inadequate and a "historic blunder" being corrected after eight years.

The Goods and Services Tax reforms approved by the Union Government on September 4 came into effect on Monday. GST 2.0 features two main tax slabs - 5% and 18%, with a 40% compensation cess for luxury and sin goods.

The Centre has presented GST 2.0 as a progressive step aimed at providing significant relief of Rs 2.5 lakh crore to the common people through indirect tax cuts.

On the other hand, th...