Brands
Luxury Ride expands luxurious cars inventory to over 75 this festive season
Mumbai: As festive season is one of the most crucial times for marketers, Luxury Ride, a one-stop destination for the most opulent range of pre-owned luxury cars, has expanded its inventory size to over 75 for pre-owned luxury cars. At present, Luxury Ride is the only brand to offer such a large collection of cars in the niche segment of pre-owned luxury cars.
Spread over a space of over 10,000 sq. feet showroom in Gurgaon, the brand exhibits an attractive collection of premium cars, from sedans to SUVs, under one roof. The brand will be offering an assortment of the most coveted, high-end models that are in demand such as Mercedes-Benz GLS, BMW X7, BMW X5, Mercedes-Benz GLE, and many more affluent cars, between the range of 20 lakhs to 1.25 crores. The brand aims to provide a hassle-free shopping experience to customers, and in this regard the company is incessantly working toward building a strong tech-driven value chain. It aims to take the collection to more than 100 cars by the end of this financial year.
As per the report, pre-owned luxury cars have registered a 35-40 per cent increase in demand year-on-year basis. Looking at the rising preference for luxury cars among customers, the brand is quite optimistic about clocking an uptick in sales this festive season. And to achieve this, the brand has maintained an optimum inventory capacity to cater to the diverse needs of the customers and ensure timely delivery at the given point in time.
Speaking on the occasion, Luxury Ride co-founder and CEO Himanshu Arya said, “Festive season contributes to about a quarter of yearly domestic volume in the automobile industry, owing to which we are anticipating a good traction. October-December is one of the most crucial periods to witness large inflow of customers, and considering that they are willing to spend money, they eagerly wait for this phase. Therefore, leveraging the occasion, we decided to curate an opulent range of cars, offering more than 75 options to help customers choose from a wide spectrum of models and segments available at a broad range of prices at one place. We are quite optimistic about the festive season, and hopeful that it will bring cheer to the industry and our brand.”
Elaborating on the same, Luxury Ride co-founder and MD Sumit Garg said, “Buying a vehicle in India holds a lot of significance, and people plan car purchases during the festive season. Consumers even expand their budget during the season, depending on the availability and their choice or preference of cars. Moreover, observing that consumers these days are driven by the desire to own luxury cars, but considering that people nowadays, generally change cars in 3-4 years, it is giving a strong push to pre-owned luxury car segment. Therefore, observing this shifting consumer behavior and in order to cater to their requirements, we have organized the most premium collection of pre-owned cars to show value for each penny spent by them.”
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.
