Brands
Hyundai Motor registers highest ever domestic sales in 2024
MUMBAI: It’s driving in top gear, purring like a beauty, moving smoothly, even when going round terrifying economic bends.
Hyundai Motor India Limited (HMIL) announced on 1 January that it sold 6,05,433 vehicles domestically and 7,64,119 vehicles in total, when exports are included. These are the highest domestic sales it as recorded since inception. The figures for just December 2024 alone are at 55,078 vehicles (42,208 units domestic and 12,870 exports).
Sports utility vehicle (SUV) sales contributed 67.66 per cent with the Hyundai Creta proving a popular buy by selling 1,86,9199 units. Vehicles adapted for CNG accounted for 13.1 per cent of sales as against 10.4 per cent in calendar year 2023.
“HMIL has managed to sustain sales momentum in 2024, despite strong headwinds faced by the industry at large. Achieving highest ever domestic sales three years in a row, reflects customers’ preference for brand Hyundai as their trusted smart mobility solutions provider,” said HMIL whole time director & COO Tarun Garg. “Introduction of the innovative Hy-CNG Duo technology in 2024 resonated well with buyers. Hyundai Creta continued to strengthen HMIL’s position as an SUV leader. We are confident that the upcoming Creta Electric, will further expand the appeal of this undisputed, ultimate SUV.”
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.
