MAM
Mahindra Scorpio triumphs at CNBC Auto Car Auto Awards
NEW DELHI: CNBC India and Auto Car have announced the winners of the second CNBC Auto Car Auto Awards, the Oscars of the Indian automobile industry.
At a fast paced, glitzy event in New Delhi, Mahindra & Mahindra’s Scorpio was awarded the Car of the Year 2003 the most coveted trophy of the evening, signaling the coming of age of the utility vehicle segment in India.
Other awards given away were
Manufacturer of the Year: Hyundai Motors India
Best Value for Money Car of the Year: Tata Indigo
Most Technologically advanced car of the Year: Mercedes-Benz E 240
Best Design and Styling of the Year: Opel Vectra
Best Drivers’ car of the Year: Mercedes-Benz E 240
Most Improved Car of the Year: Hyundai Accent CRDi
CEO CNBC India Haresh Chawla said, ‘The Indian automobile industry is going through a very visible transition. And it is best manifested in the improved quality of passenger vehicles being introduced across all segments. The CNBC Auto Car Auto Awards is an effort to create a credible platform to recognise the efforts of the auto manufacturers and also provide an indicative parameter to the consumer.”
New models of passenger cars introduced in the year 2002 were eligible for the CNBC Auto Car Auto Awards. The CNBC Autocar Auto awards were presented by Goodyear India in association with HDFC Bank- Car Loans and Exide.
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.
