MAM
Carat India rated number one on vitality scores: RECMA
MUMBAI: After a flurry of account wins over the last 12 months including brands like General Motors, Microsoft, Sony, Nokia, MasterCard, British Airways, JSW Steel & Cement, Popees and Ruosh to name a few, Carat has also shown the maximum growth on the Qualitative Ranking of RECMA moving from the number 11 spot in August 2013 to number four in the latest report, making it the fastest growing media agency in India.
To top it all, on Vitality scores of the research, Carat has jumped to the number one position with a perfect score of 10.
Dentsu Aegis Network chairman and CEO South Asia Ashish Bhasin said, “This is an absolutely fantastic achievement by Carat to become the fastest growing agency in India. From being a one-in-a-crowd agency in the market, in a short time, they are at the top-end of the table. As the lead media agency of the Denstu Aegis Network, Carat continues to make its mark in the Industry and will very soon be amongst the top three on all parameters.”
Carat India managing director Kartik Iyer opined, “This is a great testimony for the fantastic work the teams have put over the past few years to strengthen the Carat brand in India. This is also a result of the key investments made by group in great people and processes which have delivered outstanding solutions to our clients.”
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.
