Under the GST's ambit: Hindustan Unilever move might trigger more action

FMCG, pharma firms among those likely to voluntarily disclose tax benefits as anti-profiteering body gets stringent

Companies in the fast moving consumer goods (FMCG) and pharmaceutical spaces are likely to be first in line to voluntarily disclose benefits under the goods & services tax (GST), the move coming as the anti-profiteering body of the government gets stringent.

Hindustan Unilever (HUL, the country’s largest consumer goods company had last week opted to disclose Rs 1.19 billion of GST benefits for the months of November and December 2017. HUL had said these had accrued after the decision to lower the GST to 18 per cent, from 28 per cent, on daily-use items. Companies were given till November 15 to