Brands
Ahead of the festive season, Amazon Pay expands availability of EMIs on Debit cards
MUMBAI: Ahead of the festive season, Amazon Pay today announced the expansion of EMIs on Debit Cards with ICICI and Axis Bank. Amazon Pay already offers EMI on Debit Card with HDFC bank and this expansion will benefit several million additional customers. These customers can now fulfill their shopping aspirations during the festival season and don’t have to wait to save up.
As the festive buying commences, this launch makes shopping more affordable for a larger set of Indian customers who want to buy high value items but don’t have credit cards. Debit Card EMIs allows eligible customers of the partner banks to shop on Amazon.in with installments using their pre-approved limits, removing the need to make full payment at time of purchase.
“We are thrilled by the overwhelming response from our pilot with HDFC Bank and this expansion is a step in line with our commitment to increase financing options and being the most affordable destination for our customers. The expansion on Debit card EMI offerings will now include several million more customers who use Debit cards and want to pay for their purchases later via EMIs. Customers with HDFC, ICICI and Axis debit cards can use this offering and make purchase decisions instantly without the hassle of saving up or delaying their purchases” says Vikas Bansal, Director, Emerging Payments, Amazon India
“At Axis Bank we have always been committed to help customers in their ‘digital journey’ through our sustained focus on making our offerings more innovative, safe and convenient and our partnership with Amazon Pay to offer our EMI on Debit Card program will further strengthen our efforts towards this aim. Along with Credit Cards EMI this offering will give another option to our customers to buy products more affordably.” said Sanjeev Moghe, Executive Vice President, Cards and Merchant Acquiring, Axis Bank Ltd.”
“ICICI Bank has always been at the fore-front of providing enhanced experience to its customers. As we approach the festive season, we believe this initiative will empower millions of our debit card customers to buy products of their choice and pay in easy EMIs. The move reaffirms our commitment to offer improved convenience and rich experience to our customers across the range of products and services,” said Sudipta Roy, General Manager and Group Head- Unsecured lending Cards & Payment Solutions, ICICI Bank
EMI on Debit cards is now available for millions of customers of HDFC, ICICI and Axis bank who have been pre-approved by their banks. These pre-approved customers don’t even need to submit any additional documents or require to keep minimum balances in their account in order to avail Debit EMI facility. Amazon Pay has further simplified the shopping experience for customers by integrating this solution in the checkout flow. After adding eligible products to cart, customers can save their Debit card on the payments page and select their preferred EMI option. Customers have to validate the payment using One time password (OTP) and follow simple steps to complete the purchase. The minimum cart value to avail Debit card EMI is INR 10,000 for HDFC bank and INR 8,000 for ICICI and Axis Bank. Customers have the flexibility to repay the loan in EMIs spread over a tenure of 6, 9 and 12 months.
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.
