HUL receives Rs 447.5 crore GST calls for and penalties
Main FMCG maker Hindustan Unilever Ltd on Monday stated it has obtained Items and Companies Tax calls for and penalties totalling Rs 447.5 crore from the authorities.
In a regulatory submitting, HUL — which owns manufacturers similar to Lux, Lifebuoy, Surf Excel, Rin, Pond’s and Dove — stated these “orders are at the moment appealable” and it’ll make an evaluation.
The corporate obtained a complete of 5 orders handed from totally different zones of GST officers over points similar to disallowance of GST credit score, salaries together with allowances paid to expats and so forth on Friday and Saturday final week.
“The Orders have been obtained by the corporate on thirtieth December, 2023 and thirty first December, 2023, respectively and the intimation is being submitted at this time i.e. 1st January, 2024, being the primary working day after receipt of the Orders,” stated HUL.
This consists of the demand for tax “on salaries together with allowances paid to expats amounting to Rs 372.82 crore and penalty amounting to Rs 39.90 crore” from the Joint Commissioner, CGST and Central Excise, Mumbai East In addition to, Deputy Commissioner of Business Tax Officer, Bengaluru has issued a requirement of tax “on the grounds of extra GST credit score availed amounting to Rs 8.90 crore and penalty amounting to 89.08 lakh”.
Excise and Taxation Officer, Sonipat, Rohtak, Haryana, has issued a requirement order “whereby GST credit score amounting to Rs 12.94 crore has been disallowed and a penalty amounting to Rs 1.29 crore has been imposed”.
Whereas Extra Commissioner, Central Tax and Central Excise, Kochi Commissionerate has additionally disallowed GST credit score and turnover adjustment amounting to Rs 8.65 crore and imposed a penalty amounting to Rs 87.50 lakh.
Based on HUL, these GST calls for and penalties would have “no materials influence on monetary, no influence on operation” or different actions of the corporate as a result of intimation of tax payable.
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“These Orders are at the moment appealable & we are going to make an evaluation to train our proper to attraction,” stated HUL.
For the monetary yr which ended on March 31, 2023, HUL (Hindustan Unilever Ltd) income was at Rs 59,144 crore.
