This study examines the impact of Goods and Services Tax (GST) implementation on the financial performance of Hindustan Unilever Limited (HUL). Employing a quantitative, comparative approach, it analyzes secondary data from 2013-14 to 2022-23, focusing on key indicators such as revenue, net profit, operating margins, and tax expenses before and after GST adoption. The findings reveal significant increases in revenue (CAGR from 5.36% to 10.93%), profitability (net profit CAGR from 6.10% to 14.17%), and operating margins, alongside a strong positive correlation between revenue and profit. Regression analysis confirms GST’s statistically significant role in enhancing financial performance. These results imply that GST has facilitated operational efficiencies and reduced tax cascading, contributing to sustained growth. The study underscores GST’s positive influence on large corporations’ profitability, providing valuable insights for policymakers and business strategists.
Gobbilla et al. (2025) studied this question.