MAM
Paro, Jassi’s art jeweler opens outlet in Bangalore
BANGALORE: SIA Art Jewelry launched their first outlet in Bangalore today. This will be SIA’s tenth in the country.
Jewelry from Sanjay Leela Bhansali’s love saga Devdas titled the ‘Devdas Collection’ was also launched. The jewelry adorned by Aishwarya Rai in the movie crafted in Bengali legendary kundan style was unveiled.
SIA Art Jewelry has also been used by Kiron Kher in Hum Tum and by Rani Mukherjee in the upcoming film 1857 – The Rising. SIA Art Jewelry also boasts of the strong tie-up with many hit sitcoms including Jassi Jaise Koi Nahin for providing latest designer jewelry.
The collection showcased at the Bangalore outlet comprises over 200 designs and uses natural gems in various colors and cuts. The collection priced Rs 500 onwards caters to all preferences and features jewelry for all occasions’ i.e. wedding, gifts, casuals and fashion. The range of jewelry include ‘tikas’, ‘haath panja,’ payal, kundan, rasrava, and a host of traditional wedding jewelry
SIA Art Jewelry operations manager Hitesh Chheda said, “Bangalore is a key market for us and we plan to set up 10 new stores across India in the current fiscal out of which two more will be opened to tap the southern markets. By the end of the year, we plan to set up stores in Hyderabad and Chennai.”
He added further, “With international and cross-cultural trends coming in, jewelry is also evolving. Every one wants to look striking and different. With an increasing awareness of fashion trends and variety of jewelry available, jewelry shopping can be complex and confusing. Our collection addresses all these issues, where everything that a jewelry buyer might need.”
“Today the jewelry industry is witnessing a change in the emerging lifestyle and buying habits. In India, the consumers are not looking at jewelry as a mere investment or savings. It has turned into a status and fashion symbol. It has also become an attractive gift option. Consumers are moving slowly away from contemporary jewelry to designer wear. They have also become very quality conscious,” he said.
Regarding revenues Chheda said that they had grossed Rs 400 million and were bullish about revenues reaching Rs 1 billion with the addition of new outlets.
SIA Art Jewelry has also launched international franchise system to meet NRI’s and overseas customers need.
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.
