MAM
BYJU’S announces Rs 2 crore for Olympic Gold winner Neeraj Chopra
New Delhi : The ed-tech brand BYJU’S on Sunday announced Rs 2 crore for the Olympic Gold winner Neeraj Chopra.
Chopra achieved a historic feat on the penultimate day of the Tokyo Olympics 2020, after he won the first athletics Gold medal for India. He came out victorious in the Javelin throw competition.
With a total of seven medals, Team India gave it’s best ever Olympics performance at the Tokyo 2020 event.
Highlighting that BYJU’S is an ardent supporter of sports in the country, the brand said its making further strides into encouraging players across sports disciplines. It has also announced Rs 1 crore each for individual Olympic winners including Mirabai Chanu, Ravi Kumar Dahiya, Lovlina Borgohain, PV Sindhu and Bajrang Punia.
The accomplishments and the stellar achievement of India’s sports heroes at the Tokyo 2020 Olympics have been nothing but inspirational, despite the challenges posed by COVID-19 lockdown in 2020-2021. Not only has each one of them made the country proud but has also ignited hope and aspiration that our country can create many more Olympic champions in the future.
BYJU’S founder and CEO Byju Raveendran said- “Sports has a critical role to play in nation building and it’s time that we celebrate our olympic heroes, not just once in four years, but every single day. They deserve all the adoration they get, and after this historic achievement at Tokyo 2020 we are rewarding the players for their efforts, sacrifices and achievements.”
He added, “We hope that this small gesture will help them in their journey going forward to win more laurels for the country and also encourage many more youngsters to dream big. India has a huge potential to produce many more sporting champions and it is important to celebrate successes like this and make them heroes so that we transform ourselves from a Sport loving nation to a sport playing nation.”
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.
