MAM
Apple India’s three senior executives quit
MUMBAI: Adding to the turbulent journey of telecom giant Apple in India, three senior executives have decided to quit the company. Apple India head of national sales and distribution Rahul Puri, national sales head of telecom Manish Sharma and head of operator business and iPhone sales Jayant Gupta are all set to leave the company.
The senior sales executives are said to be leaving Apple as the company is struggling to sell its products in India and with further arrangements made to its distribution system by the company’s new head of India operations Michel Coulomb.
Coulomb wants to discontinue three of its distributors in India by March 2019 and continue with only two national distributors, out of the five the company has.
Even though India is the world’s second largest smartphone market, the iPhone maker is struggling with sales in India and accounts for only two per cent market share in the country. In 2017, Apple managed to sell only 3.2 million iPhones.
Michel has been reported to be struggling with his new job in making business relationships in the Indian market as it continues to remain a market where people still prefer/can afford a mid-range handset.
Apple’s new India chief Michael Coulomb is taking steps to change Apple’s pricing and sales strategies in India. The new India head has decided on blacklisting and cutting off supply to small scale retailers that buy the products from wholesalers to eventually sell it at a discounted price.
Brands
Jubilant FoodWorks faces Rs 47.5 crore GST demand, plans appeal
Tax authorities flag alleged misclassification of restaurant services
MUMBAI:Â 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.
