Brands
iVOOMi to launch four economy smartphones
MUMBAI: iVOOMi, a Chinese electronic major OEM/ODM is set to enter the fast-growing smartphone market in India with the launch of series of High-End Smartphones. The brand plans to launch 4 models in India ranging from Rs. 4000–Rs. 10,000.
iVOOMi will unveil iV505 as their first smartphone in Indian Market in the month of March, priced at Rs. 3,999. iV505 provides high-end features – Jio ready 4G VoLTE SIM cards on both the slots, flash charge technology, and Android Marshmallow 6.0 which is unique to smartphones in this price range.
iVoomi global business head Bradley Yan said, “We are committed to establishing iVOOMi in the Indian market with our innovative products loaded with highly valued SmartMe OS (Customized OS) & features at an affordable price.”
iVOOMi currently has its focus on “Online-only” strategy and therefore, has tied up with Shopclues, India’s first and largest managed marketplace. The partnership will focus on a successful launch and entry into the Indian market.
The company has a broader plan for Indian market and intent to establish its R&D and Manufacturing unit in India by 2019. iVOOMi is currently working with key brands from Europe , Russia, South East Asia and Asian countries.
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.
