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GST 2.0 Triggers Early Festive Spending Surge Across Autos and E-Commerce

Officials are collecting end-September field reports on price pass-through before deciding any enforcement.

Overview

  • Festive e-commerce sales jumped 23–25% year-on-year in the first two days, with Amazon logging over 38 crore visits (more than 70% from outside top metros) and Flipkart reporting a 21% rise in user visits and stronger demand in mobiles, TVs, and refrigerators.
  • Maruti Suzuki says inquiries have climbed to nearly 80,000 a day with around 18,000 daily bookings and over 75,000 retail sales since Navratri began, as small-car demand doubles in Tier-2 and Tier-3 markets.
  • GST 2.0 moved to two main slabs of 5% and 18% with a 40% band for select luxury and sin goods from September 22, driving price cuts such as a 6–8% fall in large TV retail prices and manufacturer reductions on small cars of up to ₹1.29 lakh.
  • RBI data show digital payments spiked to ₹11.31 lakh crore on September 22 and ₹11.19 lakh crore on September 23, signaling an immediate pickup in high-value and retail transactions.
  • The RBI expects the overhaul to boost consumption and ease inflation, while the Centre anticipates a near-term revenue impact of about ₹48,000 crore and is examining fixes like automatic refunds to address inverted duty.