MAM
Ad, M&E stalwarts together in IAA’s Sony-backed first cricketing event in Mumbai
MUMBAI: International Advertising Association (IAA) recently hosted the IAA Cricket League 2016, one of the most successful and largest cricketing events that brought the M&E and advertising fraternity together.
Cricket being one of the most popular sports in the country and among corporate circles alike, the IAA Cricket League was a huge success with 24 teams from leading advertising and Media and Entertainment entities battling it out against each other to win the champion’s trophy. Presented by Sony Max, the two day event was held on November 5 & 12 at The Islam and Wilson Gymkhana at Marine Lines.
With many intense rounds of games and a nail-biting finish, the Mid Day team was adjudged the winner, while The Social Street bagged the runners up title. IAA president Neeraj Roy, and IAA vice president Monica Tata presented the winner’s trophy to the victorious eleven from the Mid-Day team.
Hungama Digital Media CEO & MD Neeraj Roy said, “Sincere thanks to Sony Max for supporting this event and also to all the 24 companies. The game has truly been a winner and my best wishes to Mid-Day. A special thanks to my colleague Atit Mehta for putting this event and also Sports 360 as well.”
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.
