Hindustan Unilever Hit with Rs 962.75 Crore Tax Notice Over Rs 3K Crore GSK Deal

Hindustan Unilever Limited (HUL) has received a tax notice for ₹962.75 crore related to its acquisition of GlaxoSmithKline's consumer healthcare business. The tax department's notice questions the tax treatment of the deal, particularly regarding the valuation and capital gains. HUL plans to contest the notice, arguing that the transaction was conducted in compliance with all applicable tax laws. This case is significant as it involves one of the largest recent mergers in India and could set a precedent for future M&A transactions.