MAM
Srinivasan Swamy, Ramesh Narayan declared IAA Champions at IAA Inspire Awards
MUMBAI: The International Advertising Association has announced its 2015 IAA Inspire Awards winners and will be making presentations at the inaugural 2015 IAA Awards Gala Dinner, immediately following the Leadership Forum on 18 May at the InterContinental Hotel, Park Lane, London.
The IAA Inspire Awards were created to celebrate IAA members who have:
•Achieved leadership excellence and contributed their vision, ideas, efforts and services to the advancement of the International Advertising Association.
•Contributed their professional expertise and inspired the marketing communications industry locally, regionally and globally.
•And pays tribute to the lifetime achievements and services of leaders in the IAA and their contributions to the global marketing communications industry
The two Champions who have been recognized from India and will be honored in London are Srinivasan Swamy Chairman R K SWAMY BBDO and President, India Chapter IAA, and Ramesh Narayan, an industry veteran and Hall of Fame awardee at the IAA Leadership Award in 2014.
Heather Leembruggen, Chairman of the IAA Inspire Awards commented, “This year the IAA is proud to initiate the IAA Inspire Awards to salute the leadership and vision of our members and their achievements on the world stage. Our global footprint in over 40 countries worldwide gives IAA members the scope and scale to make a significant contribution towards stimulating, enhancing and building the marketing communications industry worldwide.”
Faris Abouhamad, IAA Chairman and World President stated, “Our IAA Champion Inspire Awards recognize those with longer, distinguished service to the association and the industry as demonstrated by those receiving the awards.”
Srinivasan Swamy said, “These awards are a validation of the active and meaningful role the India Chapter of the IAA has been playing as the leading industry association of its kind in the country. Ramesh and I will accept these awards on behalf of the entire team at the India Chapter.”
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.
