NAA slaps Rs 3.83-bn penalty on HUL for not reducing MRPs of products

Of the Rs 3.83 bn, half the sum is to be deposited in the central Consumer Welfare Fund and the other half in the similar funds of 35 states and Union territories

The National Anti-Profiteering Authority (NAA) has slapped a penalty of Rs 3.83 billion on Hindustan Unilever Ltd (HUL) for not reducing maximum retail prices of its products after the goods and services tax rate cuts came into effect on November 15, 2017. 

The GST rate was cut on a number of products from 28 per cent to 18 per cent that day.

Of the Rs 3.83 billion, half the sum — Rs 1.91 billion — is to be deposited in the central Consumer Welfare Fund (CWF) and the other half in the similar funds of 35 states and Union territories. 

The company has