MAM
Net advertising exceeds cinema ad spends in the UK: IAB report
LONDON: New media seems to have scored over traditional media for the first time in 2002! These are the findings of a joint research conducted by the Interactive Advertising Bureau (IAB) and PricewaterhouseCoopers.
The IAB report says that online ad spend was ?197m or 1.4 per cent last year; compared to cinema, which was ?180m or 1.2 per cent and radio advertising which was around 4 per cent of the total ad spend.
A netimperative report quoted IAB’s Danny Meadows-Klue as saying that net advertising was on target to reach 2 per cent by autumn 2004.
The report also says that IAB and PwC have also broken down the research by category, after announcing the top-line figures last month, revealing that the market has now truly moved away from the time when it was totally reliant on dotcoms, telecoms and IT firms.
Financial services is now clearly the largest category, with 26 per cent of the total, with FMCG and automotive also growing fast. The research has also revealed a seasonality pattern for online ad spend, which tends to experience softer Q3s, followed by consistent uplifts in Q4.
Separately, the IAB has also announced a new Creative Showcase Awards, co-sponsored by The Guardian, which is designed to give Interactive Media Agencies the chance to show off their creative work.
The IAB hopes the new monthly web-based Creative Showcase awards will redress the balance and share some of the best creative work with a wider audience. Any agency or in-house team can enter and ten senior industry creatives will judge the work. There is no prize but winners get to have their work published in the Media Guardian.
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.
