MAM
Rana Barua promoted as the CEO of Contract Advertising
Mumbai: Rana Barua has been elevated as the CEO of Contract India.
Rana who is currently travelling will take charge with immediate effect.
His elevation as the CEO is in recognition of the stability and growth that Contract has had in the last one year. He has been able to successfully build a team of some of the finest talent in the industry, along with winning several new businesses for the agency and enhancing existing client relations.
Announcing the development, JWT South Asia CEO Colvyn Harris said, “In Rana, we have a leader who has very ably carried the mantle of leading Contract to a renewed position of power that has made the agency a destination of choice for brands and talent.”
Over the last twelve months, Rana has driven Contract’s diversification across mainstream, digital, design and other platforms of engagement marketing to ensure the best value proposition for clients.
Brands
Jubilant FoodWorks faces Rs 47.5 crore GST demand, plans appeal
Tax authorities flag alleged misclassification of restaurant services
MUMBAI: Jubilant FoodWorks Limited has landed in a tax tussle after receiving a GST demand of Rs 47.5 crore from the office of the additional commissioner of CGST and central excise in Thane, Maharashtra.
The order, issued under the provisions of the Central Goods and Services Tax Act, 2017, relates to an alleged incorrect classification of certain services under the category of restaurant services. According to the tax authorities, this classification resulted in a short payment of goods and services tax for the period between the financial years 2019-20 and 2021-22.
The demand includes Rs 47.5 crore in GST along with an equal amount as penalty, in addition to applicable interest. The order was received by the company on March 13, 2026.
In a regulatory filing to the BSE Limited and the National Stock Exchange of India Limited, the company said it disagrees with the order and believes its arguments were not adequately considered.
The company is preparing to challenge the decision and plans to file an appeal. It added that once the redressal process is complete, the demand is likely to be dropped.
Despite the sizeable figure attached to the notice, the company said it does not expect any material impact on its financials, operations or other activities.
The disclosure was signed by Suman Hegde, EVP and chief financial officer, who confirmed that the company received the order at 19:06 IST on March 13 and has already initiated steps to contest it.
The development places the quick service restaurant major in the middle of a tax debate that could hinge on how certain restaurant-linked services are classified under GST rules. For now, the company appears ready to take the matter from the tax office to the appeals desk.
