Hindustan Unilever, Nestle not sure how to pay profiteering sums

HUL said it was not possible to immediately pass on the benefit of the GST rate reductions

Six months after the National Anti-profiteering Authority (NAA) was set up, companies like Hindustan Unilever and Nestle India are not clear how to transfer ‘profiteering’ amounts that arose after goods and services tax rates were changed in November.

Hindustan Unilever is awaiting bank account details from the NAA to be able to deposit Rs 1.6 billion. Nestle India has been advised by the NAA to deposit the amount it has calculated in the Consumer Welfare Fund. The fund is yet to be constituted.

The GST Council had reduced rates for over 200 items of common use on November 10. These