MAM
Goafest 2017 receives 4500 entries from 329 companies
GOA: Goafest 2017, India’s foremost advertising, media and marketing convention kick started its annual festival with a ceremonial popping of the champagne bottle to herald a brand-new edition of the event. The day one of the festival saw an exciting conclave with industry stalwarts such as Upasana Taku of Mobikwik, Hemant Malik of ITC Limited and Acharya Balkrishna of Patanjali Ayurved taking the center stage.
In its 12th year, the convention has received a whopping number of 4500 entries with about 2500 delegates attending the three-day long festival. This year, Goafest has received the highest number of sponsors. What’s more? It has also gone digital with an app and a website this year. The festival is also going green in partnership with National Geographic who have arranged several campaigns like conservation of water, recycled paper, etc.
Advertising Agencies Association of India president Nakul Chopra said, “Twelve years ago, Goafest began as an event for people from the world of advertising to get together to network and celebrate quality work. Today, it gives me immense pleasure to see how this festival has grown into becoming one of the foremost events in the creative calendar. It’s extremely encouraging for us to see so many young people participating in the event with such enthusiasm – and not just attending the ABBYs but also showing immense amount of interest in the varied seminars that we have lined up this year. If the scene on day one is anything to go by, I’m pretty sure the next two days are going to be just as exciting with some exemplary speakers taking the stage and some must attend seminars taking place.”
The industry body claims to have invested approximately 8-10 crore in the event this year.
The Advertising Club president Raj Nayak said, “Goafest is the world’s largest industry event in the advertising industry – organized by two industry bodies coming together. In the true sense, it is an event by Indians, for Indians and completely made in India. Goafest is the world’s largest even organised by an industry body. It is not for profit. This year, we had over 300 jurors from across the country coming together to judge the entries for which awards will be presented over these three days of the event…with almost 112 of them judging tonight’s Media and Publishing ABBYs. Goafest, when it started was only a creative awards ceremony. However, today, in its twelfth edition, it has become a festival of knowledge, wisdom, entertainment, fun and a great networking opportunity.”
Nayak also said that the event can get almost 10000 people provided there is an infrastructure to support the same.
Goafest 2017 chairman Ashish Bhasin said, “With changing times, Goafest has also evolved. For the first time Goafest is going green in part by getting the delegates visiting the event to conserve water and taking other baby steps to our bit for the environment. This year we have heavily subsidized entry to let more and more young people to attend the event. It is extremely exciting for us to see so many young people participating in the event and appreciating the changes we have brought in. Curious young minds are keen to attend seminars and talks by interesting speakers this year. Day 1 has been such a huge success. We can only see this getting better and better over the next two days.”
Chairman of the Awards Governing Council of Goafest 2017 Ramesh Narayan added, “The atmosphere at Goafest is always filled with excitement, camaraderie and a whole lot of fun. And this year is no different. It is absolutely heartening to see members of the advertising and marketing fraternity sending in some wonderful entries this year which have kept the jury on their toes. Judging any award is a difficult process and more so when you’re pitting one excellent entry against another. Judging by the level of excitement today, I’m sure that the next two days are going to be absolutely spectacular.”
With industry specific conclaves to expert seminars and ABBYs presentations, the Goafest ABBYs 2017 presented by the The Advertising Club and The AAA’ of I has once again seen the entire advertising and marketing community descend upon the silver sands of North Goa to celebrate excellence in creativity across media platforms and genres.
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.
