MAM
Wakefit.co’s rewind song ‘Bhaad Mein Jaa 2020’ wins internet
Bengaluru: As a tumultuous year comes to a close, the trials and tribulations of 2020 was encapsulated in a funny, witty and topical video by sleep and home solutions company, Wakefit.co. The video, which has amassed more than 1.6 million views across the internet in three days, came at an opportune time to wrap up the highs, the lows, the untoward surprises and the eventful twists of 2020 and resonates with what people went through during the year.
The video was a raging success among netizens, as it struck an instant chord with people whose lives have been turned upside down due to the pandemic and being cooped up at home. Using the hashtag, #BhaadMeinJaa2020, some claimed that it captured the emotions of the year aptly while others declared it was the best video of 2020. The video reached more than 13 million people across social media within three days.
Wakefit.co director and co-founder Chaitanya Ramalingegowda said, “We really wanted to sum up 2020 on a lighter note and give people something to chuckle about after a grueling few months this year. We created an independent YouTube channel called Home Time and released this video, which is our way of bidding 2020 goodbye once and for all. At Wakefit.co, we believe in creating content that makes people smile while also bringing to light the need for sleep and home wellness. We are thrilled to have received such an overwhelming response for our video from netizens.”
The film has been designed and conceptualised by Spring Capital.
Wakefit.co recently raised series B funding of Rs 185 crores from Verlinvest and Sequoia Capital India and plans to bolster its expansion plans in the year to come. The company will also double down on its marketing wherewithal and continue to create content that adds value to the lives of its consumers.
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.
