India, Oct. 3 -- Since its rollout in July 2017, India's Goods and Services Tax (GST) has been both a bold experiment and a learning curve for the economy. Launched under the slogan "one nation, one tax", it sought to unify a patchwork of state and central levies into a streamlined system. The idea was elegant, but the execution revealed complexities; multiple tax slabs and a hefty compliance burden weighed particularly heavily on small businesses, which struggled to navigate the maze of paperwork and input credits.

Fast forward to 22 September 2025, and we have GST 2.0, a recalibrated approach designed to make life easier for both consumers and businesses. The reforms touch a wide spectrum of sectors, with effects that are immediate and...