MAM
IAA appoints Srinivasan Swamy as chairman & world president
MUMBAI: Indian advertising professionals seem to be taking the world by storm. Close on the heels of the Pandey brothers becoming the first Asians ever to receive the Lion of St Mark Award (the highest honour at the Cannes International Festival of Creativity), yet another Industry doyen has broken the proverbial glass ceiling.
R K SWAMY HANSA Group chairman Srinivasan Swamy will take over as the chairman and world president of the illustrious International Advertising Association (IAA), the first Indian ever to do so.
Sundar, as he is called by his friends, will lead a team of 25 executive committee members from a host of countries including India, USA, UK, Austria, Italy, Poland, Ghana, UAE, Australia, Malaysia, Russia, Netherlands, Kuwait, Iran and Nepal.
He will take over from the legendary advertising professional Felix Tataru from Romania today at a glittering function to be held in his honour at Bucharest.
The International Advertising Association is an 80-year old institution and considered the most prestigious advertising body of its kind in the world. The IAA is acknowledged as the world’s most influential network of marketing and communication leaders, aimed at representing the common interests of all the disciplines across the full spectrum of marketing communications – from advertisers to media companies to agencies to direct marketing firms, as well as individual practitioners.
Its activities involve professional development of marketing communication practitioners, protecting freedom of commercial speech, advertising self-regulation, protecting consumer interest, training and education.
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.
