MAM
Cosmos-Maya Wins coveted Filmy Cricket League
MUMBAI: Cosmos-Maya, the market leader in original Indian animation content creation in kids’ space, recently won the Filmy Cricket League, held in Mumbai.
The Filmy Cricket League (FCL), in its 7th edition, saw the participation of major media houses like Disney, Warner Bros, Sony Pictures, Reliance Entertainment, Fox Star Studios, among others.
A conscientious company that earnestly believes in encouraging team spirit and unity, Cosmos-Maya has undertaken numerous team building activities for this purpose. One of these attempts included having a Cricket team in place for participation in sporting events like the Filmy Cricket League. Cosmos-Maya has been a regular at the event ever since its inception. However, this year, it exceeded everyone’s expectations by comprehensively winning every match it played in the tournament.
Commenting on this victory, Anish Mehta, CEO, Cosmos Maya, said, “It has been our endeavor to provide our employees with the perfect blend of work and play. Whether it was the selection trials or the tournament itself, the response from Cosmos-Mayaites was phenomenal. Our efforts to inculcate a sense of team spirit through sporting activities, have proven to be successful.”
The 7th edition of Filmy Cricket League was held on the 21st, 22nd, and 23rd of December, 2018.
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.
