MAM
Damon Xi new UCWeb India GM
MUMBAI: UCWeb, an Alibaba Mobile Business Group Company, has announced the appointment of Damon Xi as the general manager for UCWeb India. The move will make Damon in charge of the strategic alliance and business development for the company in India.
UC Browser has reached a milestone of 100 million MAUs in India and with a market share of 57% (as per Stat Counter), UC Browser is the largest mobile browser in India.
Alibaba Mobile Business Group general manager of overseas business Kenny Ye said, “Bringing in Damon will enable the team in India to work and keep up with the dynamicity. Damon with his strategic abilities and immense managing associations in the internet industry is the ideal candidate.”
Damon was earlier working for Tencent and has over 12 years of professional experience in internet and telecom industry. He said, “The decision to head UCWeb in India could not come at a better time. The Indian mobile internet landscape is the most exciting place to be at.”
With a strategy of digitising entertainment, UCWeb in India recently collaborated with various entertainment based activities be it movie promotions with “Ae Dil Hai Mushkil”, TV Shows with its partnership with Colors TV shows such as Jhalak Dikhla Ja and Bigg Boss or Book Releases with Chetan Bhagat’s recent bestseller, One Indian Girl.
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.
