MAM
Colors’ Raj Nayak to lead Indian delegation at AdAsia 2015
MUMBAI: Colors CEO Raj Nayak will lead the Indian delegation at AdAsia 2015 to be held from22-25 November in Taipei.
The announcement was made by The Asian Federation of Advertising Associations (AFAA) chairman Pradeep Guha in the presence of AFAA vice-chairman Raymond So.
Guha said, “I am very pleased that Raj Nayak is leading the Indian delegation to AdAsia Taipei. It is a great opportunity for professionals from marketing advertising and the media to participate in Asia’s premier advertising event.”
The principle objective of AdAsia is to give Asian advertising a boost while showcasing that it is at par with international advertising standards. Every alternate year, the event is held at a different destination with Taipei being the host for the congress’ 2015 edition.
AdAsia is a platform that brings together prominent professionals from all over Asia as they get the opportunity to interact and exchange ideas. With top notch speakers from across the world who will not only talk business but also participate in informal get-togethers to foster a strong relationship, AdAsia is the must-visit event for the industry every year.
Nayak said, “I would like to thank my peers and colleagues in the industry and the industry body associations, who have found me worthy of this honour. AdAsia serves as the ideal platform to bring together like minded professionals to meet, network and share ideas on a global scale, helping in the overall growth and development of the community at large. I would urge my friends from the industry to try and send as many delegates from their organisation to represent India in its full strength.”
The Advertising Club chief operating officer Bipin R Pandit added, “AdAsia, a biennial event, is one of the most looked forward to event within the advertising community. With the Indian market evolving constantly, AdAsia serves as the perfect platform for industry leaders to come together to showcase Indian campaigns that have potential to create global impact. We are happy to have Raj Nayak lead the delegation in Taipei this year; his knowledge and expertise in the M&E industry is unparalleled and under his leadership, the very huge Indian delegation will surely emerge as the frontrunners at the congress.”
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.
