MAM
IKEA India on boards Murali Iyer as chief financial officer
Mumbai: Swedish home furnishings retailer IKEA has appointed Murali Iyer as its new chief financial officer for its India business. He will be part of the IKEA India leadership team reporting to the CEO and chief sustainability officer Susanne Pulverer.
Murali takes over from Preet Dhupar who has moved into a global role within Ingka group which is the parent company of IKEA.
In the new role of chief financial officer, Murali will lead IKEA India’s CFO function with purpose towards profit, leading the finance controlling, business navigation, legal, tax, customs, and business risk & compliance teams.
Murali brings with him over 22 years of successful track record in financial leadership, having worked with the Volvo Group in India and Sweden in multiple roles. With a keen business acumen and curiosity to learn, his experience across geographies and cultures has enabled businesses to overcome challenges for an inclusive growth.
Commenting on his appointment Murali Iyer, said, “I am excited to begin my journey in IKEA India and contribute to its ongoing growth journey. We are focusing on our priority markets and building a strong home furnishings foundation through our omnichannel expansion to be more accessible, affordable, and sustainable for the many people.”
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.
