MAM
Omnichannel retailing is the way to go in India
MUMBAI: It is a renowned fact that the economic scenario in India has significantly transformed over the past two decades largely due to the retail sector. The retail market is set to double in 2016-17 from Rs 23 crore in 2011-12. This growth will be spurred by mutual growth of both offline and online channels of retailing.
“Omnichannel retailing is the way to go in India. All retailers have a big market, nevertheless organised retailers will have to find local relevance,” said Ministry of Commerce & Industries additional secretary J.K. Dadoo in the recently concluded trends in Retail Summit 2015 organised by ET Edge, an Economic Times initiative.
Talking about investor interest in the retail sector, Dadoo added, “With the changing trends, we will see more interest by investors too. The Indian government is keen to allow FDI in B2B e-commerce.”
During the Summit, The Boston Consulting Group (BCG) senior partner and director Abheek Singhi opined, “Shopping is an occasion which needs to be cherished and is a combination of mobile, social and human connection. Today consumers are in control of the shopping experience.”
Echoing his views Shopper’s Stop MD and VC Govind Shrikhande said, “The four D’s that count at present are demographics, disruption, digital and data analytics. Living in the generation of millennials, mobile and social commerce will shape the future of shopping.”
Speaking about the success of the Summit, Times Conferences president Deepak Lamba said, “It’s a delight to see the interest and enthusiasm of so many professionals to learn about the growing retail trends in India. Given the recent boom in the sector, e-commerce is capturing almost all retail sale, however, brick-and-mortar stores will never go out of fashion. Furthermore, digital wallets will help the country transform into a cashless economy.”
The Summit witnessed presence of more than 120+ professionals from the retail, banking and marketing sectors. Key trends, business and government policies were discussed by government officials and retail and banking honchos.
The Summit took place on 26 June 2015 at Hyatt Regency, Mumbai.
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.
