Hindustan Unilever shares down after Rs 447.5 cr GST demand

Hindustan Unilever has made a disclosure regarding the Orders passed by Deputy Commissioner of Commercial Tax Officer, Bengaluru, Additional Commissioner, Central Tax and Central Excise, Kochi Commissionerate, Joint Commissioner, CGST and Central Excise, Mumbai East Commissionerate and Assistant Commissioner of State Tax, Guwahati, respectively.

HUL said it has received Goods and Services Tax demands and penalties totalling Rs 447.5 crore.

“There is no material impact on financial, no impact on operation or other activities of the Company due to the intimation of tax payable. These Orders are currently appealable & we will make an assessment to exercise our right to appeal,” HUL said.

HUL is down 1.3 per cent in trade at Rs 2,620 on BSE.