Hindustan Unilever Ltd (HUL), the Indian arm of global FMCG major Unilever, has received a tax demand of ₹1,560 crore (around $174 million) from Indian income tax authorities.
The order relates to the assessment year 2021–22 and includes issues linked to transfer pricing and certain tax disallowances.
In a regulatory filing, HUL said it disagrees with the assessment and will challenge the order through legal channels. The company added that the demand is not expected to have any significant impact on its financial position or ongoing operations. No penalties have been imposed at this stage.