Hindustan Unilever Limited loses GST credit and faces a penalty in an order-in-appeal.
On October 15, Hindustan Unilever Limited has received the Order-in-Appeal under Section 107(11) in respect of demand made under Section 73(9) of the UPGST/CGST Act 2017 & IGST Act, 2017 from the Additional Commissioner, Grade II Appeal, Aligarh, Uttar Pradesh, according to the exchange filing.
GST credit amounting to Rs. 4,96,249 has been disallowed and penalty amounting to Rs. 49,625 has been imposed The authority has disallowed GST credit amounting to Rs. 4,96,249, imposing penalty amounting to Rs. 49,625.
The Indian fast-moving consumer goods company will be making an assessment to exercise their right to appeal. "There is no material impact on financial, no impact on operation or other activities of the Company due to the intimation of tax payable," said Hindustan Unilever Limited in the exchange filing.
