MAM
Snapdeal bags title sponsorship of India Fashion Forum for three years
MUMBAI: Snapdeal.com has entered into a partnership with retail intelligence organization Images Group to present the three-day annual mega annual congregation of the India Fashion Forum (IFF) 2015 from 18 – 20 March at the Bombay Exhibition Centre in Goregaon, Mumbai.
India Fashion Forum is in its 15th year of operations and offers a great platform for exchanging knowledge, insights and discussing future trends within the right networks of fashion and aligned sectors. Fashion already accounts for over 70 per cent of orders volume at Snapdeal.com and the company has robust business plans to strengthen this category further. Recent acquisition of Exclusively.com was one such step in this direction and Snapdeal.com aims to reach the $2 billion GMV mark in the fashion category by this year.
Snapdeal.com’s continuous endeavor is to empower the ecosystem it operates in and the thematic focus on fashion is no different. The company strongly believes in the power of innovation and reinvention and this ideology falls in line with IFF’s this year’s philosophical focus on convergence of out-of-the-box ideas and innovations in fashion creation and retailing. As the fashion business captains, policy makers, entrepreneurs and professionals from India and overseas join this annual exchange of knowledge and insights, Snapdeal.com aims to forge a new set of business relationships in this high focus category.
Snapdeal.com vice president, fashion Amit Maheshwari said, “IFF is one of the biggest conglomerations of the best and biggest personalities in the Indian fashion industry and we are proud to be associated with it. This association provides Snapdeal.com a great platform to address and interact with those who have been instrumental in building fashion across the value chain; from manufacturers, brands, large format retailers, sellers and trendsetters. With our unbeatable reach and customer service platform together with business and knowledge leaders of the offline world, we are sure that we can herald a new era for the fashion industry building e-commerce as a sustainable, massively scalable ecosystem that contributes positively to all involved.”
“With the modes and models of fashion retailing in India having shifted dramatically in recent times, IFF’s association with a next-generation e-tailing leader such as Snapdeal.com reflects the tremendous innovation and opportunities defining the Indian marketplace,” added IFF chief convenor Amitabh Taneja.
Over the three-day association, Snapdeal.com will set up a premier lounge at the venue, which will showcase to the audiences the nuances of India’s largest marketplace by setting up experiential zones with live interactive screens to help people shop online from the site. To showcase its commitment and appreciation for the fashion fraternity, Snapdeal.com has also planned to institute special awards for its sellers and fashion brands associated with the company. These awards will be given away in a special Snapdeal.com awards segment designed to honor the good work being done in the industry.
Additionally, India Fashion Forum will also act as an open platform of communication for potential sellers, retailers and fashion brands at large with Snapdeal.com and help them understand the business opportunity at the largest online marketplace. To facilitate onboarding, a registration desk will be set up at the venue which will educate and evangelize all business partners.
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.
