Brands
ShopClues signs MoU with KOTRA to get authentic Korean products to India
MUMBAI: ShopClues and Momoe Technologies (part of Clues Network) have entered into a strategic Memorandum of Understanding (MoU) with the Korea Trade-Investment Promotion Agency (KOTRA), reinforcing its commitment to making available authentic and premium Korean products on its online platform.
As part of the MoU, KOTRA will identify outstanding Korean enterprises and support their entry into the Indian retail market with the help of ShopClues. In turn, ShopClues will offer an exclusive category called K-Avenue dedicated to Korean products on its website. ShopClues will also hold promotional events with the help of KOTRA while also encouraging Indian vendors to import and sell Korean items on its platform.
“We expect that the advent of Singapore’s Qoo10 into India through Shopclues and Momoe will be a turning point in bringing both premium Korean goods into the Indian market, and Indian products to Korea’s customers,” said KOTRA South Asia Regional Head Office director General Moon Young Kim.
“As Korea’s sole National Trade and Investment Promotion Agency operating in 130 overseas branch offices, including 6 in India, KOTRA will support mutually beneficial activities in both countries. Any Indian company that wishes to be connected with Korean counterparts and products can contact us for our utmost assistance,” he added.
Momoe Technologies, as a part of the MOU, will look into the setting up of logistics centres in major Indian cities and offer logistics services including transportation and customs clearance, to ensure a seamless supply chain. Qoo10-owned logistics company Qxpress will also support the venture by offering competitive international shipping rates to Korean exporters.
By cushioning the heavy resources required of most enterprises looking to enter a new market, the effects of this MoU are expected to enable a smoother entry for Korean brands in India. Additionally, it will provide freer access to a wider variety of Korean products for Indian consumers to choose from.
“This MoU is a win-win for all parties involved, but especially for our Indian customers who will now have access to some of the best and most diverse range of products manufactured by outstanding Korean enterprises. We also see this as a huge opportunity to be able to bring India’s beautiful products to the booming Korean market,” said Shopclues.com co-founder and CEO Sanjay Sethi.
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.
