MAM
Croma’s chief of marketing & business development Ritesh Ghosal moves on
Mumbai: Tata Croma’s chief of marketing and business development Ritesh Ghosal has called it quits after six and a half years stint. He had joined the Tata consumer electronics retail chain in March 2015.
“Yesterday I called time on Croma after an incredibly eventful six and a half years stint. met some wonderful people, built a fabulous team, made some life-long friends, learnt some life-lessons…and we also built the brand and business. Reason: my personal desire to relocate to my home base Gurgaon, ennui setting in after 6 years of doing the same thing and lack of interest in the alternative assignment offered. 90 days of seeing through open projects and I will be a free man,” Ghosal said in a LinkedIn post.
Ghosal has 25 years of experience in building businesses and brands. An MBA from IIM Bangalore, he has 18 years of experience in leadership roles across MNCs and Indian conglomerates in the areas of brand management, advertising, consumer insight, and general management.
He has previously worked at organisations such as Raymond, Tata Teleservices, Millward Brown, Coca Cola India, Reckitt (then Reckitt Benckiser), IMRB, and Lintas.
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.
