MAM
Citizen in retail outlet expansion mode: plans 100 outlets
BANGALORE: Citizen opened it’s 16th exclusive franchisee outlet at Coimbatore this week. The company also plans to take the tally up to 100 across the country within the next five years, with an ultimate target of 500 mutli-brand “Citizen-Corner” showrooms.
The company plans to promote and sell it’s eco friendly watches in India emulating it’s successes in other countries such as Japan, and it’s recently launched ‘Eco Drive’ watches have been well received.
Spurred by a growth of 30 per cent by volume as well as value, the company has reached a sales figure around 200,000 units annually with a 40 per cent market share in the Rs 5000 to Rs 25,000 price per unit segment.
Citizen is confident of sustaining this growth due to rising incomes and expects the demand for high value watches to go up, but has no plans to set up a India based manufacture and assembly plant in the immediate future because of unavailability of high quality components. According to company source the components manufactured in India don’t meet with it’s specifications.
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.
