Anti-profiteering drive: HUL to offer govt another tranche of GST benefits

According to the GST's anti-profiteering rules, benefits of input tax credit should be passed on to the recipient by way of a commensurate reduction in prices

Fast-moving consumer goods major Hindustan Unilever (HUL) is set to offer the government another tranche of goods and services tax (GST) benefits that it could not pass on to consumers.

The move comes after the Directorate General of Safeguards, the investigation arm of the anti-profiteering authority in the GST regime, sent another notice to HUL last week, seeking clarity on the methodology used and supporting documents on how it arrived at the figure of Rs 1.19 billion in GST benefits that accrued to the government.

HUL had suo motu handed over to the government Rs 1.19 billion in two tranches