Brands
ItzCash associates with Kings XI Punjab
MUMBAI: ItzCash has announced its association with Kings XI Punjab team as its official principal sponsor and payments partner.
Kings XI Punjab team mentor and franchise’s brand ambassador Virendra Sehwag unveiled ItzCash’s branded head gear for the players. The company which is celebrating its 10 years journey of pioneering and driving the digital growth path for India is proud to be a part of the 10th season of the most awaited Indian Premiere League (IPL). ItzCash will be present on the leading side of the helmet and the corresponding side of all other official headgear.
ItzCash chief growth officer Bhavik Vasa stated, “This is the first year and we are excited to announce our partnership with Kings XI Punjab, as both have been playing strongly on the front foot for 10 years. The energy and passion that cricket brings forth in its fans resonates with ItzCash’s core values and will enable the company to connect the unconnected from all walks of life.”
On ItzCash being principal sponsor and official payment partner, ItzCash managing director Naveen Surya said, “Cricket is one sport that relates with every Indian. So is the case with ItzCash, thanks to our Omni-channel business model.”
Kings XI Punjab chief executive officer Satish Menon stated, “It’s a fresh start for the team and we are glad to commence with new players and partners on board. We have tremendous faith in Sehwag and his ability to shape the team together. Indore has been very warm to us and we are thrilled to be beginning our season in the city.”
Sehwag stated, “The players are in a great headspace, and the energy around the franchise is very positive. We hope to have some fantastic games ahead and I feel with the talent and chemistry this team is building, it will hold us in a good position for this season.”
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.
