MAM
Consumer Confidence of Indians ebbs in August 2019: Thomson Reuters-Ipsos PCSI
MUMBAI: Consumer Confidence of Indians has dropped by 3.1 percentage points in August 2019, according to the latest India Primary Consumer Sentiment Index (PCSI),as measured by Thomson Reuters in partnership with Ipsos. This downward slide in PCSI has been continuous since May 2019, barring a marginal (0.6 percentage point) improvement in July 2019.
Notably, mood is downbeat across all parameters of PCSI which is driven by the aggregation of the four, weighted, sub-indices: the PCSI Employment Confidence (“Jobs”) Sub-Indexis down by 1.7 percentagepoints; the PCSI Economic Expectations (“Expectations”) Sub Index, has fallen by 3.0percentage points; the PCSI Investment Climate (“Investment”) Sub-Index has tumbled by 4.1percentage points; and the PCSI Current Personal Financial Conditions (“Current Conditions”) Sub-Index has declined by 3.7 percentage points over last month.
“Urban Indians are feeling less confident about the economy and jobs and further, there is bit of a tightening in personal spending and investments for the future; macro-economic factors (both, global and local) are definitely impacting the mood, making the indicators drop, month on month,” says Parijat Chakraborty, Country Service Line Leader, Public Affairs& Corporate Reputation, Ipsos India.
India PCSI 2013-2019 Trend
These are findings of an Ipsos online poll conducted July 26, 2019 – August 9, 2019. For this survey, a sample of 500 adults from Ipsos' India online panel aged 16-64 years was interviewed online. As this is an online poll in India, representative of the online community in the country, it is not reflective of the general population; however, the online sample is particularly valuable in its own right as the respondents are more urban, educated and have more income than their fellow citizens and often referred to as “Upper Deck Consumer Citizens” or Primary Consumers. The precision of the Thomson Reuters/Ipsos online polls is measured using a Bayesian Credibility Interval. In his case, the poll has a credibility interval of plus or minus 5.0 percentage points for all adults. For more information on the Bayesian Credibility Interval please see http://www.ipsos-na.com/news-polls/pressrelease.aspx?id=5836
The Thomson Reuters/Ipsos India Primary Consumer Sentiment Index (PCSI), ongoing since 2010, is a monthly national survey of consumer attitudes on the current and future state of local economies, personal finance situations, savings and confidence to make large investments. The Index is composed of four sub-indices: Current Conditions Index; Expectations Index; Investment Index; and, Jobs Index.
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.
