MAM
Borosil ‘Proud’ to fuel team India with special edition Hydra bottles
Mumbai: Borosil, India’s leading brand in glassware and kitchenware, which is also one of the sponsors of the Indian Olympic Association is proud to fuel the Indian athletes and fans with special edition Hydra bottles at the Asian Games 2023. The athletes received the Hydra bottles after the official Asian Games Indian team kit was unveiled at the send-off ceremony for the contingent in New Delhi on Tuesday.
The Asian Games, set to take place from 23 September to 8 October 2023 in Hangzhou, Zhejiang Province, China is a prestigious multi-sport event where India’s finest athletes will compete against the best from across Asia. Borosil’s collaboration with the national contingent signifies a commitment to supporting India’s top athletes on their journey to sporting excellence and underscores its dedication to providing quality nutrition solutions.
Speaking on the occasion Borosil Ltd AVP (marketing) Barnali Shankar said, “Borosil is proud to support the Indian contingent at the Asian Games, Hangzhou, 2022 through the Indian Olympic Association. As a brand, we believe health and hydration are much needed for the players to perform at their optimal performance towards the path to success. We will support our athletes in any way we can to help them produce their optimal performance. All the very best to team India and hope that we can win as many medals as possible.”
Borosil’s involvement with the Indian contingent at the Asian Games underscores the brand’s dedication to fostering excellence in sports and promoting a culture of health and well-being in India.
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.
