Brands
Anchor receives CMO design award, Penta to be top brand by ’18
MUMBAI: Anchor Electricals (A Panasonic group company) was the proud recipient of Stars of the Industry Group Design Plus Excellence Awards associated with BBC Knowledge and powered by CMO Asia for Product Design Excellence.
The Design Plus Excellence Awards are divided in four broad frame categories comprising of Product / Industrial Design, Communication / Multimedia Design, Architecture / Interior Design and Fashion Design with 25 sub-categories. Anchor won this award for its newly introduced range of Penta Modular switches, the Modular Switch that boasts of a contemporary look, higher aesthetic appeal and safety features at the lowest price-point.
Receiving the award, Anchor DGM – advertising Lalit Malhotra stated, “The award is a tribute given to the company’s design expertise as the new Penta Modular range design was done in-house using the guidance of Panasonic Japan. The design is registered with the Government of India as well.”
Anchor director – sales and marketing Ashok Gangar stated, “Brand Penta holds a special place in the heart of every Indian as it was the first Piano Switch of India. Penta Modular is the latest offering under the brand, a Modular offshoot of Penta with unique design and better safety features across the lowest price-point. We introduced this switch range last year, eyeing the aspirations of the youth with a clear focus on keeping it as a value plus offering from Anchor by Panasonic. Our idea was to design a modular switch that offers unrivaled safety features at the most affordable price-point, eyeing the impetus given by the government on affordable housing and infrastructure development. The range amongst many others, boasts of feature such as a socket with Urea backpiece that is fire-retardant. Penta Modular range has grown to be a 2000 million INR brand under a span of 18 months and we have also introduced color plates and chrome-collared plate additions in the same. We expect to grow this brand to cross the Rs 5000 million mark over the next two years.”
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.
