MAM
Epson to be Helsinki World Championships in Athletics’ official IT partner
MUMBAI: Epson has announced its sponsorship of the 10th IAAF World Championships in athletics, to be held in Helsinki, Finland, from 6-14 August 2005. Epson’s sponsorship marks the fifth time that it it has attached itself as the official IT partner since its initial involvement in the Athens Games of 1997.
This year’s Championships, which are being held in the Finnish capital for the first time since the inaugural tournament in 1983, will involve more than 2,000 of the world’s finest athletes from over 200 countries and territories. With an estimated total of more than 6 billion viewers worldwide, the event ranks not only as the world’s leading tournament for track and field events, but also as the largest sporting event to be held in 2005.
With Epson’s Performance Evaluation (EPE) System, for example, TV viewers will be able to enjoy field events three-dimensional analysis of the long jump, triple jump, and javelin throw immediately after the jump or throw. Moreover, the analysis also enables athletes to better understand and thus improve their performances according to the company. Epson’s Commentator Information System (CIS), will be able to able to collate and transmit in real time results from the track and field, in addition to a host of information about the athletes and past events.
This up-to-the-minute information is the basis for the data provided to enthusiastic athletics fans worldwide by TV and Internet media, including the official website of the IAAF (http://www.iaaf.org).
These systems will be backed by an international team of approximately 50 Epson technical staff, with other support to include high-speed, high-performance laser printers for the pressroom and for all the print needs of the local organizing committee.
“Epson believes that the spirit of challenge and the desire to exceed shown by the athletes matches perfectly with its corporate ethos of creativity and challenge,” said Seiko Epson Corporation president Seiji Hanaoka. “And just as the athletes drive themselves to exceed ever higher targets, we are dedicated to providing products and services that exceed the expectations of our customers. This is embodied in our global tagline – “Exceed Your Vision,” added Hanaoka.
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.
