MAM
Majestic MRSS launches India outfit; Panchal to head
MUMBAI: Global multi-country market research agency and business intelligence unit, Majestic MRSS, has launched MRSS India to service Indian clients‘ market research requirements both in India, and outside the country.
The company has brought on board Sarang Panchal as MRSS India chief mentor and co-founder. Having more than two decades of experience in market research, he was Nielsen MD, Asia-Pacific, between 2007 and 2008.
The new outfit in India will look to capitalise on technologies for insight, developed by Majestic MRSS and its partners in the US, Europe, and Japan.
“MRSS India will offer Indian marketers local access to the best of breed technology to generate consumer insights,” the company said.
The company‘s aim is to be the biggest local independent agency by the end of the decade.
Majestic MRSS co-founder, president Raj Sharma said, “Panchal‘s appointment will have a huge impact. With the kind of knowledge of the Indian market that he has, he will help us provide a lot of value to our Indian clients. The formation of the Indian arm will help us gain sizeable market share.”
Majestic MRSS has a presence in over 18 countries.
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.
