Grand Masti features LGBTQ+ themes primarily through comedic scenarios involving mistaken identity and characters pretending to be gay. The film's humor often relies on stereotypes and portrays queer identity as a source of ridicule and discomfort, resulting in a net negative impact on its portrayal of LGBTQ+ characters and themes.

Grand Masti portrays gender ambiguity and cross-dressing primarily as a source of crude humor. Characters initially presented as women are revealed to be men, leading to comedic shock and disgust from the male protagonists. This depiction reinforces negative stereotypes, using gender non-conformity as a punchline without dignity or complexity, resulting in a problematic and negative overall impact.

The film, an adult comedy, frequently employs religious references and settings (primarily Hindu) for irreverent humor and comedic situations, often trivializing sacred elements. The narrative does not offer a counterbalancing respectful or nuanced perspective, instead using these elements as props for its raunchy jokes.