Directorate General of Safeguards has served a notice for profiteering on HUL for allegedly not passing on benefits accruing from GST rate cuts to consumers. Photo: BloombergNew Delhi: The Directorate General of Safeguards (DGS) has served a notice for profiteering on Hindustan Unilever Ltd (HUL) for allegedly not passing on price reduction benefit to consumers post GST rollout. As part of its investigation, DGS usually calls for a company’s balance sheet, profit and loss account, GST returns and details of invoice-wise outward taxable supplies. It also scrutinizes the price list prior to and post GST rollout. DGS is mandated to complete its investigation within three months, and may seek an extension of a further three months from the standing committee.

Source: Mint January 16, 2018 17:26 UTC