MAM
Siemens signs sponsorship, tech deal with Disney
MUMBAI: Media conglomerate Disney has signed a 12-year marketing agreement with technology major Siemens AG.This includes rights for Siemens to sponsor attractions at Walt Disney World in Orlando.
In Times Square in New York, Siemens is replacing Sony on a big billboard run by Disney’s ABC television network. And, at the Disney-owned Epcot Center, the German company is taking over Spaceship Earth, a golf-ball-shaped attraction that AT&T Corp controlled for two decades.
Siemens will be putting its logo on those Disney showpieces and other prominent properties as part of a 12-year deal aimed at boosting its brand recognition in the US. Media reports state that Siemens will sponsor several rides and attractions at Walt Disney World Resort and the two companies will work together to develop and apply new technologies across a range of Disney businesses.
Siemens AG is one of the largest global electronics and engineering companies with worldwide sales of $91.5 billion in 2004. The deal allows Siemens to reach a U.S. audience with its brand and technology in a new and entertaining way, while giving Disney an international partner as the company expands abroad.
Media reports indicate that it is in tune with Disney COO, Robert Iger’s plan for building relationships with companies and countries, to complement the brand on a global basis.
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.
