MAM
Philips retains Carat as its media agency, adds MPG for certain geographies
MUMBAI: Consumer electronics major Philips has continued its global strategic media partnership with Carat across all its business segments and corporate organisation.
While global media agency MPG has been hired to handle the consumer lifestyle sector in America, France and southern Europe, Carat will continue to provide media agency services in all other geographies.
Philips consumer lifestyle, chief innovation, marketing and strategy officer Antonio Hidalgo said, “Continuing our relationship with Carat is testimony to the strength of their strategic offering and the trusted partnership we have built in the recent years. The addition of MPG for specific geographies reflects Philips’ focus on identifying strong local partners to deliver business results.”
Aegis Media Asia Pacific CEO Nick Waters added, “Asia is a
predominantly important market for Philips. In retaining Asia we have held on to their fastest growing and most dynamic markets in the world. We are happy that Philips has affirmed our strength in this region, and following a long-standing relationship of over a decade, this win is proof of the true partnership we have developed.”
Carat India MD Kartik Iyer said, “I am absolutely delighted with retaining the business and believe that it bears testimony to the integrated solutions we have been providing Philips across offline media, digital media, OOH, retail and activation over the years in the region. We would definitely like to thank the Philips India team for all the support they have given us and look forward to a long, continuing relationship with Philips.”
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.
