<h1>GST impact on consumer demand: price cuts passed to consumers, supporting volumes while some wholesale channels remain disrupted.</h1> GST has not materially reduced consumer offtake for Hindustan Unilever; passing tax benefits through price reductions is expected to stimulate demand and support volumes. Modern trade and institutional channels are normalizing, while wholesale disruptions in central regions and reduced buying by the canteen store department have temporarily constrained topline and volumes, with the company anticipating a gradual channel reset as wholesalers adapt to GST.