MAM
Adidas becomes official footwear partner for the India CWG contingent
Mumbai: Sportswear giant Adidas comes on board as the official performance footwear partner for the Indian contingent at the 22nd Commonwealth Games (CWG) 2022 in Birmingham, England scheduled from 28 July to 8 August 2022.
Interestingly, Adidas unveiled Supernova (its latest performance footwear), along with a customised backpack and duffle bag for the athletes as part of the official CWG kitting during their send-off ceremony. The brand has always been at the forefront of supporting and empowering athletes with the best-in-class performance enhancing gear.
This year’s CWG contingent includes some of Adidas’ leading athletes like Mirabai Chanu, Lovlina Borgohain, Hima Das, Nikhat Zareen, Manpreet Singh, Jeremy Lalrinnunga and Manika Batra, who will be gunning for Gold in their respective sports.
Speaking on this partnership with the IOA, Adidas senior director-brand Sunil Gupta said, “We are incredibly proud of this partnership with the Indian Olympic Association for the CWG. Our endeavour is to support our athletes with the best performance gear to enhance their sporting experience and setting them up for success.”
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.
