Hindustan Unilever Ltd Received 447.50 Crore GST Demand Notice Form Goods And Services Tax Department Know Details Of It

HUL GST Notice: Hindustan Unilever Limited (HUL), one of the country's leading FMCG companies, has suffered a major setback with the beginning of the year 2024. The company informed on Monday that it has received a notice of Rs 447.50 crore from the Goods and Services Tax Department. This notice issued by the GST Department includes both demand and penalty.

According to the information given to the stock market, the company can further appeal on the notice received. In such a situation, it will be assessed first and after that the company will take further decisions. HUL is one of the largest consumer goods (FMCG) companies in the country and is the parent company of famous brands like Lux, Lifebuoy, Rin, Pond's, Dubb, Surf Excel.

Why did the company get the notice?

HUL has received a total of five notices from different GST zones of the country on the issue of GST credit, salary, allowance etc. All these notices were received on Saturday and Sunday i.e. 30th and 31st December. The company has made the information about this notice public on the first working day i.e. January 1, 2024. Of the notices of Rs 447 crore issued by GST, the largest amount is from Mumbai East branch. This zone has demanded salary tax on an amount of Rs 372.82 crore along with a penalty of Rs 39.90 crore.

Apart from this, a fine of Rs 89.08 lakh has been demanded on the company in Bengaluru on additional GST credit amount of Rs 8.90 crore. At the same time, GST Excise and Taxation Officers of Sonipat, Rohtak of Haryana have rejected the GST credit amount of Rs 12.94 crore and imposed a fine of Rs 1.29 crore on it.

What did the company say?

After receiving a notice of Rs 447 crore from the GST department, HUL said on Monday that all these notices received by the company are not going to have much financial impact and HUL's operations will continue as normal. At present, the company can appeal further on all these orders. At present, we will first evaluate all the notices and then appeal using our rights.

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