MAM
Google in mood to buy more online display ad firms
MUMBAI: Google is planning to buy more companies to accelerate its presence in the sprawling online display ad sector.
Speaking to a group of reporters at Cannes International festival of creativity, executive chairman Eric Schmidt said the giant would continue gobbling companies that specialised in managing display ads such as video and banners.
The move will be a challenge for Facebook and comes even as European regulators examine Google‘s dominant web search position.
Recently, Google announced its plans to buy AdMeld in a bid to capture a larger pie in the area of graphical display ads.
We started off with mainly text ads, and now the display business has arrived, which can become a $10-20 billion business, Schmidt added.
Google made approximately $29 billion in 2010 through its small ads that appear alongside the search results.
But analysts feel that Google can be better-off, if it diversifies its business with products such as social networking. This can prevent advertisers moving over to social network sites such as Facebook.
In 2011, Facebook will take over Yahoo to take the top position in online display, according to a report released earlier this week by research firm eMarketer.Consequently, Google is in a buying mood.
Brands
Jubilant FoodWorks faces Rs 47.5 crore GST demand, plans appeal
Tax authorities flag alleged misclassification of restaurant services
MUMBAI:Â 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.
