GST 2.0 cut the rates. Nobody checked if consumers noticed.
Nine months after India's biggest indirect tax reform, most brands are still working off the assumption that a rate cut meant a price cut meant a behaviour change.
That's three assumptions. None of them are guaranteed.
A rate cut only reaches consumers if it passes through to MRP revisions.
Pass-through isn't uniform. Organised retail categories reprice faster. Fragmented categories with thin margins often see the cut absorbed into distributor margin instead of the sticker price.
And even when prices do drop — a rate cut that isn't perceived doesn't change purchase behaviour. No matter what the MRP tag says.
The question worth asking right now:
Do your consumers know prices changed? Do they credit it to GST — or just to "things got cheaper"? Did the insurance exemption actually drive uptake or just improve insurer margins?
Nine months is the right moment to find out. Pass-through has settled. Festive season hasn't arrived to complicate the read yet.
Once October comes, separating GST-driven price perception from promotional noise becomes significantly harder.
→ Full analysis: https://maction.com/gst-2-consumer-behaviour-india/