Edition:
United Kingdom

Hindustan Unilever Says Will Consider Legal Options In Relation To Anti-Profiteering Order


Wednesday, 26 Dec 2018 

Dec 26 (Reuters) - Hindustan Unilever Ltd ::CLARIFIES ON NEWS REPORT ON GST AUTHORITY FINDING CO GUILTY OF PROFITEERING.HINDUSTAN UNILEVER SAYS NATIONAL ANTI PROFITEERING AUTHORITY PASSED ORDER AGAINST CO ON DEC 24 FOR DEPOSITING AN AMOUNT OF 2.23 BILLION RUPEES.NAA ORDER REFERS TO NEED TO PASS ON BENEFIT OF REDUCTION IN RATES TO CONSUMERS WHICH IS FULLY CONSISTENT WITH CO'S STAND, ACTIONS.SAYS NO METHODOLOGY HAS BEEN DETERMINED BY NAA AS REQUIRED UNDER LAW TO DETERMINE IF BENEFIT HAS BEEN PASSED OR NOT.NAA ORDER "MAKES A NARROW INTERPRETATION OF LAW AND DOES NOT TAKE INTO ACCOUNT WELL ESTABLISHED INDUSTRY PRACTICE BACKED BY LAW".SAYS GIVEN THERE IS DIVERGENCE ON SOME BASIC ISSUES, HUL WILL, CONSIDER LEGAL OPTIONS AVAILABLE TO IT.