MAM
NITI Aayog, Nestlé India, Tata Global & Parle Agro execs pocket Excellence Awards
MUMBAI: The Advertising Club (TAC) and the Advertising Agencies Association of India (AAAI) jointly announced the first ever champions of excellence who would be felicitated at the Goafest on 7 April 2017.
The awards were conceived and curated by the AAAI and TAC for acknowledging and saluting visionary advertisers who have taken the leap of faith and invested resources, ensuring that “Great ideas transform into Great advertising”.
The jury consisting of senior members of the awards governing council of the Abby’s at Goafest were unanimous in selecting NITI Aayog CEO Amitabh Kant, Nestlé India Ltd South Asia Region Sr. VP & Head of Communications and E- Commerce Chandrasekhar Radhakrishna, Tata Global Beverages chairman Harish Bhat and Parle Agro JMD and CMO Nadia Chauhan, GCMMF Ltd (Amul) managing director R.S.Sodhi as the first ever recipients of this new and prestigious industry award for their role in inspiring great advertising.
AAAI presdient Nakul Chopra said “For the first time we are honoring advertisers at the Goafest. This award is very special as it acknowledges the pivotal role played by these men and women we call “clients” but who have acquired a much larger status in the overall brand scenario. These are the select few individuals who have helped build and nurture brands, supporting their Agency partners every step of the way.
The Advertising Club president Raj Nayak added “As an industry we need to salute these Brand Custodians who stake the reputation and money of their Brands on the creativity of their advertising agencies. They literally take that leap of faith every day. Having them at Goafest would be very inspirational for the audience.
Goafest chairman Ashish Bhasin said, “We always celebrated advertising agencies, digital companies, production houses and media companies at the Goafest. Now with top advertisers being honoured, the festival is more complete.”
Awards’ Governing Council chairman Ramesh Narayan said, “This award really places the advertiser at the center of the communication effort, and rightfully so. The response for nominations from advertising agencies was quite good and I am confident this would go on to become one of the highlights of the Goafest in the years ahead. What is advertising without the advertiser?”
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.
