MAM
GoSats teams up with Swiggy Instamart for asset-based rewards
Mumbai: GoSats, a pioneer in asset rewards and cashback, announces the recent conclusion of its strategic partnership with Swiggy Instamart. The partnership focused on offering the GoSats Elite Card worth Rs 999, completely free to Swiggy Instamart customers; The card came pre-equipped with an Rs 100 instant spendable balance and an additional 10% cashback in Gold/Bitcoin on all orders, up to Rs 100.
This marks yet another successful campaign for GoSats, who have previously collaborated with other prominent Indian e-commerce brands such as Myntra, Flipkart, Nykaa, Zomato, BigBasket and numerous others. At this recently concluded collaboration, Swiggy users in Bengaluru received a unique GoSats flyer with a QR code upon their grocery deliveries. The QR code allowed users to scan to claim the GoSats Elite Card free of charge and stand a chance to receive cashback from 100 premier brands.
Commenting on the incredible success of the partnership, GoSats co-founder & CEO Mohammed Roshan said, “We received a wonderful response from our partnership with Swiggy Instamart. Grocery delivery is on the rise in urban India, thanks to Swiggy Instamart, and the customers are always looking to get the best deals available out there. Grocery delivery now comes equipped with passive savings into asset classes via GoSats in a hassle-free way, exposing users to an entirely unique dimension to purchasing essentials.”
Since GoSats came into existence, it has been able to strike a meaningful interactive dialogue with its customers across India — enabling their financial planning and wealth creation conveniently and seamlessly. The firm allows users to swipe its cards anywhere to receive 1.5% cashback rewards, while also offering up to 20 per cent earnings on gift card purchases of top brands.
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.
