Brands
Instagram most preferred platform for influencer marketing: Report
MUMBAI: Around 70 per cent of brands, which participated in a survey done by Buzzoka – influencer marketing company, have bet on Instagram, a Facebook-owned photo-sharing app, as the best platform for influencer marketing in 2019, followed by LinkedIn & Tik Tok at 8 per cent each.
In its third edition of Influencer Marketing Outlook, Buzzoka surveyed over 500 brand custodians and content creators in December. The brand custodians included agency and brand folks across the Indian eco-system.
While 50 per cent of surveyed brands see influencer marketing as an important tool, at least 52 per cent of them believes that it gives better reach and engagement with audiences.
According to the report, the majority of brands look for the quality of content, influencer produces before finalising; with a maximum spend of $50,000 for each campaign in a year of a brand.
Over 30 per cent of surveyed brands believe influencer marketing has been the fastest growing online customer acquisition method.
Meanwhile, around 60 per cent of the brands believe that Instagrammers are the most effective in the influencer marketing system compare to other social media platforms.
Over 45 per cent of brands are of opinion that around 5-7 per cent of the overall budget is spent on influencer marketing in 2018. However, over 70 per cent of the brands are ready to increase the percentage spends in the influencer marketing budget in 2019.
Out of the surveyed brands, 50 per cent of them are okay with influencers disclosing the content they are putting is sponsored, whereas 50 per cent are not comfortable with revealing it.
Over 75 per cent of brands see ‘determining the ROI (return on investment) of my influencer marketing programs’ as one of the major challenges for influencer marketing in 2019.
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.
