MAM
Automotive component manufacturers association of India
MUMBAI: Automotive Component Manufacturers Association of India (ACMA), the apex body representing India’s auto component manufacturing industry, today announced the appointment of Deepak Jain, Chairman & Managing Director, Lumax Industries Ltd. as its President and Sunjay Kapur, Chairman, Sona Comstar as the Vice President for the term 2019-21. The announcement was made at the 59th ACMA Annual Session of the Industry body.
Announcing the new President, ACMA Director General, Vinnie Mehta, said, “We are delighted to announce the appointment of Deepak Jain, as ACMA President. An industry veteran and a leading manufacturer of auto components & systems, Deepak has an in-depth understanding of industry dynamics. We look forward to his leadership in taking the industry’s agenda forward in these challenging times.”
Accepting the new responsibility, ACMA President, Deepak Jain, said, “It is a matter of privilege to be appointed as the President of ACMA, the apex body of the Indian Auto Component Industry. The industry is going through one of the most difficult times ever. Notwithstanding the regulations-led-technological changes and business cyclicality, the industry needs to prepare itself for the future. We have therefore created a new pillar at ACMA to focus exclusively on xEVs & Future Mobility. It is indeed an imperative for ACMA to drive change through the entire auto component manufacturing chain and help its members stay relevant to their customers. I am confident that we will well scale the challenges confronting us with the support of the government and all our stake holders.”
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.
