MAM
Madhusudan Gopalan becomes MD, CEO of P&G India
MUMBAI: P&G India has announced Madhusudan Gopalan as the company’s new managing director and CEO. He will take charge on 1 April 2018.
Gopalan has over 18 years of experience working for the company across business units and diverse geographies such as India, the US and Asean countries.
Gopalan is currently leading the P&G business in Indonesia, where he has led strong sales growth, share turnaround, robust value creation and cash productivity. He will take over from Al Rajwani, who is set to retire from the company after 37 years of service after the end of the financial year. Until his retirement, Al will help in on-boarding Madhusudan on the India business and enable a smooth transition.
During Rajwani’s tenure, over the last three years, the P&G business in India underwent a portfolio transformation that saw the company go from losing money to delivering triple digit-profit in a couple of years. In the first half of the company’s financial year ended December 31, 2017, P&G has delivered double-digit sales growth with majority of the business growing share.
P&G continues to be the market leader in most of the segments it operates in like baby diapers, blades and razors, feminine care, shave prep, health care, anti-ageing skincare, and is number two in shampoos and toothbrushes.
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.
