GST 2.0 and Personal Loans: Will EMIs Become Cheaper? With the application of GST 2.0 on September 22, 2025, in India, the country has seen an impressive refinement of its Goods and Services Tax structure. This has assisted in improving the focus on easy usage of the tax regime, reducing the approval burdens and also improving the clarity. While the main focus has always been on segments like automobiles and consumer goods, it is important to understand how these changes affect personal loans, particularly the GST personal loan EMI.