Brands
PhonePe goes all out for IPL 2021, inks 6 different sponsorships
KOLKATA: In a bid to drive its reach and growth, digital payments platform PhonePe is betting big on the IPL by taking up six different sponsorships for this year’s edition. Besides being the official co-presenting partner for the television broadcast of IPL 2021 on Star Sports Network, PhonePe is also the associate sponsor for the digital broadcast of the league on Disney+ Hotstar. Additionally, the fintech start-up is also bankrolling four IPL franchises – Mumbai Indians, Chennai Super Kings, Royal Challengers Bangalore, and Delhi Capitals.
This is the third year in a row that PhonePe is co-sponsoring IPL as the league continues to be the biggest sporting event in India, offering its advertising partners considerable national reach. This year, however, its IPL campaign will run equally aggressively across multiple platforms including TV, digital and social media platforms.
In the biggest-ever marketing push for the brand, its marketing interventions will run through the year with a focus on the upcoming IPL 2021. The crux of the marketing activities will largely be on expanding the user base from 280 million currently to 500 million by December 2022 and drive preference for PhonePe among millions of new-to-digital users.
PhonePe founder & CEO Sameer Nigam said, “We are kicking off our most aggressive national marketing campaign ever, starting with IPL 2021 next month. We have invested even more heavily on IPL this year, taking up six different sponsorships. As the category leader, it is our vision as well as our ambition to bring digital payments to every Indian household. Our aggressive marketing efforts are in line with this strategic priority.”
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.
