MAM
Goafest 2017: Carat chief strategist observes data’s great tool, but gut feeling critical
GOA: As the upside-down slide indicated and exhorted — “see things differently” — Carat global chief strategy officer Sanjay Nazeralli, on Friday, went on to explain why it was important so, and to also focus on the changing perspective, setting the tone for the day.
“We can’t carry on doing what we have been doing in the past decade. We have to change our perspective on four things — globalisation, convergence, data and innovation,” said Nazeralli, adding that data had indeed helped strategists to get close to the consumers.
Pointing out that today cross-border e-commerce was worth around ‘USD 25 billion’ representing 10 per cent of total e-commerce, Nazeralli said that, by 2020, it is expected to represent 30 per cent of e-commerce in the world.
He also spoke about the “transformation” from physical goods to data and information (age of design), highlighting the emphasis on transformation from “capital-intensive to knowledge-intensive culture” and how the digital revolution had impacted the education market (connected education realm is expected to be worth USD 450 billion by 2020).
He was quick to point out that businesses based on transferring knowledge were “winning over” businesses transferring physical products.
“17.8, 15.1, 13.7, 10.8 and 9.3. It shows that the numbers are consistently going down and that is the rate of growth of spend in digital advertising. Convergence is changing (everything). India is now going faster than Google,” Nazeralli said, explaining how digital was no longer a screen one goes to, but is omni-present — “it’s everywhere”. He added: “There’s a reverse takeover of life by digital. The dish of the day is data, and this marks the return of marketing.”
According to Nazeralli, data was the most powerful tool, but it is needed to be seen differently. “We grew up writing copies, not code. Why it (data) does makes us feel down and creatively handcuffed?” he asked.
Holding forth on innovation, he said that there was a difference between doing things differently and doing things different, and concluded his session with the message: There’s a huge difference between what is true and the truth. And sometimes, gut is more powerful than data.
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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.
