Brands
Top five advertisers contributed 32 per cent of ICC World Cup ’23 ad volumes: TAM Sports
Mumbai: TAM Sports has released an advertising report based on the first 39 matches of ICC CW’23 and for all the channels on which matches are telecasted.
ICC World Cup’23 witnessed indexed growth of 19 per cent from the first 39 matches in terms of average ad volumes per match compared to ICC World Cup’19.
The count of categories & brands grew by 32 per cent and 30 per cent respectively in ICC World Cup’23 compared to ICC World Cup’19 during the first 39 matches from both the World Cups.
In ICC World Cup’23, perfumes/deodorant was the leading category with eight per cent share of ad volumes. Perfumes/deodorant, pan masala & ecom-wallets were the only common categories among the top five of ICC World Cup’23 and ICC World Cup’19 in the first 39 matches.
Also, the top five categories together covered 32 per cent share of ad volumes during the first 39 matches of ICC World Cup’23.
Among the top five advertisers, Vini Product was the only common advertiser between ICC World Cup’23 and ICC World Cup’19. The top five advertisers collectively added 32 per cent share of ad volumes during ICC World Cup’23.
Over 50 new categories and over 195 new brands were advertised in 39 matches of ICC World Cup’23 compared to the same number of matches in ICC World Cup’19.
Among the 195 plus new brands, ‘Bharat Petroleum MAK’ was the leading brand followed by ‘Indusind Bank Indie App’.
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.
