MAM
PhonePe launches silver investments on app ahead of festive season
Mumbai: Digital payments company PhonePe has rolled out silver investments on its platform that will allow users to invest in silver coins and bars of high certified purity on the PhonePe app. The service comes with the added benefits of best prices and safe insured doorstep delivery.
Customers can choose from denominations of 10g, 20g, 50g, and 100g silver coins or bars, and get them home-delivered. PhonePe has partnered with SafeGold to process payments for ‘99.99 per cent pure silver’ with quality certification from a NABL-accredited laboratory. “The coins and bars come with guaranteed weight and purity and are sealed in international quality packaging with a unique serial number that ensures foolproof quality and traceability for the product,” said PhonePe.
The app allows users to pay for silver coins and bar purchases, track delivery progress online, and avail support when necessary.
Speaking about the launch, PhonePe, head of mutual funds, Terence Lucien said, “Silver has special significance in Indian culture especially during festivals and other auspicious occasions. We are delighted to be the first payments platform to offer our 300+ million user-base the highest purity silver coins and bars. ”
“Online purchase of silver coins and bars has become increasingly popular in the last few years. As we usher in the festive season, we are excited to partner with PhonePe and enable its users to purchase silver coins with assured purity, home delivery, and best value in the most transparent, secure, and organised way,” added SafeGold, managing director, Gaurav Mathur.“
To access silver coins on PhonePe, users will need to click on Gold & Silver under the Investments tab, select the preferred silver coins, add an address for delivery, and pay. The product will then be delivered to the customer’s doorstep.
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.
