MAM
CNBC and SAS touch upon ‘Corporate Governance’ issues
MUMBAI: CNBC-TV18 and the SAS Institute Inc organised an interactive panel discussion on Corporate Governance: The Cornerstone of an Intelligent Enterprise in Mumbai on 9 December.
In the 21st century, Corporate Governance is one of the crucial parameters that investors consider, before investing in the shares of any organisation. Implementing good strong Corporate Governance practices has therefore become a priority for many companies.
SAS senior vice president and chief marketing officer Jim Davis said, “Corporate Governance is often confused with Corporate Compliance. Both of these are very distinct and definitions of Corporate Governance are often misleading. Good corporate governance is the lens through which a stakeholders, customers and suppliers of a company view a company.”
SAS chief executive officer Jim Goodnight, who was the Guest of Honour for the discussion said, “Cost should not be a constraint when implementing systems for good governance because more knowledge at a CEO’s fingertips is always an added advantage for the organisation.”
Eminent personalities like Oriental Bank of Commerce chairman and managing director B D Narang, Deutsche Bank chief country officer Gunit Chadda, Tata Sons executive director R Gopalakrishnan, Pfizer India executive director (finance) Keval Handa, AV Birla Group chief financial officer DD Rathi discussed how prudent investment in advanced technology could be used to make a real difference to a company’s bottomline.
Speaking at the discussion, a CNBC-TV18 spokesperson said, “Corporate Governance is a systemic process by which companies are directed and controlled to enhance their wealth generating capacity. Since large corporations employ vast quantum of societal resources, the governance process should ensure that these companies are managed in a manner that meets stakeholders aspirations and societal expectations. CNBC-TV18 has brought together eminent executives from top organisations to highlight the fact that good corporate governance is possible only with a strong and decisive top management, and we believe this is possible only if they have the right information at their fingertips. Hence the route to success for any organisation is to invest in the right technology that gives the Right Information, at the Right Time, to the Right Person.”
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.
