HUL hit with ₹447.5 crore GST demands and penalties

livemint.com:

₹447.5 crore from the authorities. In a regulatory filing, HUL -- which owns brands such as Lux, Lifebuoy, Surf Excel, Rin, Pond's and Dove -- said these "orders are currently appealable" and it will make an assessment.

HUL signals first steps to regain market share from small players The company received a total of five orders passed from different zones of GST officials over issues such as disallowance of GST credit, salaries including allowances paid to expats etc on Friday and Saturday last week. "The Orders were received by the company on 30th December, 2023 and 31st December, 2023, respectively and the intimation is being submitted today i.e.

1st January, 2024, being the first working day after receipt of the Orders," said HUL. Rough terrain for FMCG cos amid sluggish rural demand This includes the demand for tax "on salaries including allowances paid to expats amounting to ₹372.82 crore and penalty amounting to ₹39.90 crore" from the Joint Commissioner, CGST and Central Excise, Mumbai East Besides, Deputy Commissioner of Commercial Tax Officer, Bengaluru has issued a demand of tax "on the grounds of excess GST credit availed amounting to ₹8.90 crore and penalty amounting to 89.08 lakh".

Asian Paints gets tax demand of ₹13.83 crore, penalty of ₹1.38 crore Excise and Taxation Officer, Sonipat, Rohtak, Haryana, has issued a demand order "wherein GST credit amounting to ₹12.94 crore has been disallowed and a penalty amounting to ₹1.29 crore has been imposed". While Additional Commissioner, Central Tax and Central Excise, Kochi Commissionerate has also disallowed GST credit and turnover adjustment amounting to ₹8.65 crore and imposed a penalty amounting to ₹87.50 lakh.