MAM
Toyota aims to sell 10,000 Corollas in 1st year
MUMBAI: Design, performance and comfort – Toyota Motor Corporation’s highest selling luxury sedan “Corolla” laid claim to all of it and more yesterday at the official launch in Mumbai’s JW Marriot Hotel.
The global version of the Corolla, which will be available in India, was unveiled by Toyota Motor Corporation (TMC) director Yoshio Shirai, Toyota Kirloskar Motor (TKM) chairman and TMC director A Okabe, TKM vice chairman Vikram Kirloskar and TMC chief engineer – Corolla project – S. Yoshida.
Present on the occasion were the authorised dealers, clients and customers. Adding the right dose of glamour to the launch function was Femina Miss India 2002 Shruti Sharma who spoke about the features and benefits offered by Corolla.
Speaking to indiantelevision.com, TKM vice chairman Vikram Kirloskar said: “Today, we open another chapter in the history of Toyota in India. In 2002, we sold 25,000 units of the Qualis model and 300 of the recently launched Capry. We have also expanded our dealer network to a total of 44 on an all India basis.”
Dentsu is the advertising agency which will release the multimedia advertising campaign for Corolla. Starcom, the buying agency for Toyota has charted out an extensive television campaign for Corolla. In the north and west, the TV advertisements will be restricted to special interest English channels and cricket. However, in south India, the ads will be aired on mass entertainment channels such as Sun TV, Gemini TV amongst others, as per the information available with indiantelevision.com.
The latest ninth generation Corolla will also be manufactured at TKM’s state-of-the-art plant at Bidadi in Karnataka. TMC has invested around Rs 9 billion in the initial phase and aims to become the biggest automobile manufacturers in the country by increasing the investment in the second and third phases of the project.
TMC director Shirai adds: “The India launch of the Corolla is considered to be an extremely prestigious event at Toyota, Japan.We are hoping that the brand will help to make a statement and boost sales in a very competitive market. Indian customers can now look forward to a world-class sedan from our sophisticated line of luxury automobiles.”
The company plans to sell 10,000 units of Corolla in the first year itself.Toyota has sold more than 30 million Corollas in 142 countries worldwide, says the official release.
Adding to the glam appeal were performances by Shiamak Davar’s troupe and models displaying the latest collections of fashion designers: Aparna Chandra, Manish Arora, Rohit Gandhi and Rahul Khanna. Amongst the audience were personalities from the TV and film world like Seema Biswas, Niki Aneja and Mita Vasisht.
A Mumbai resident Sapna Patel, who purchased the first Corolla in Mumbai, won a fully sponsored trip to South Africa and will watch the India-England and India-Pakistan matches. Pankaj Kowli was another winner of the lucky draw contest held at the fag end of the show.
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.
