MAM
Indian TV ad market to grow by 10% predicts Informa
MUMBAI: Zenith Optimedia‘s optimistic report about the growth of the Indian TV ad market has been backed by a study from UK researcher Informa Media & Telecoms. The Informa study says that the Indian TV ad market grew 9.5 per cent to $1.06 bn, whereas China grew 9 per cent year on year to $4 billion.
The spurt in these two countries‘ spends enabled the Asia Pacific region to edge ahead of Western Europe in terms of TV ad spend for the first time. The Asia Pac region‘s figure totted up to $27.9 billion as against west Europe‘s $26.7 billion. Informa had expected A-Pac to do the trick by 2012, but the region bested the research outfit‘s estimates. The US, says Informa, is the world‘s largest TV ad region with spends of $38.9 billion.
Going forward, Informa has predicted that, the US TV ad market will be worth $47bn by 2015. Asia Pacific will be second at $34.4bn with Western Europe still trailing at $33.6bn. The total TV ad market will be worth $141 billion at that time.
The Informa study also crystalball gazed for 2010 with net TV worldwide advertising expenditure expected to grow 3.7 per cent to $116 billion. India is predicted to increase to the tune of 10 per cent while China will see a 12 per cent rise. South Africa which is hosting the World Cup soccer next month will perk up 15 per cent, with Turkey and Vietnam keeping pace, Argentina is expected to rise 16 per cent.
Informa has forecast that some nations will degrow in 2010. Amongst these figure the Czech Republic, Finland, Greece (no surprises here!!!), Hungary, Ireland, The Netherlands, Norway, Puerto Rico, Romania and Taiwan.
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.
