MAM
Times Internet ropes in sponsors for IPL 5.0
NEW DELHI: Times Group‘s digital arm Times Internet, which has the new media rights for IPL till 2014, has has roped in Coca-Cola, Samsung and Maruti as premium sponsors while Kotak Mahindra Bank, Hero Honda, Citi Bank, E Bay, and Karbonn Mobiles and Hindustan Unilever have come on board as associate sponsors.
According to Times Internet CEO Rishi Khiani while premium sponsors have paid between Rs 35 to Rs 50 million, the associate sponsors have forked out between Rs 15 to Rs 30 million.
Times Internet has also tied up with All India Radio to get audio commentary for the IPL matches. AIR will sell the ad spots. The website has offered to share revenues equally with the government‘s radio channel in the tie-up, the details of which would be worked out by before IPL begins.
Times Internet has designed a multi-faceted interactive site on Indiatimes.com for the upcoming IPL season.
A number of new features has been introduced this year, including active scorecards, high-definition streaming of IPL matches, DVR features (to rewind during a match), and video-on-demand facility.
The company has also tied up with Google to provide match streaming on YouTube besides tying in IPL teams as digital partner.
It will have high-definition streaming of the matches, which will adapt to slow data speeds and bandwidth availability and offer buffer-free viewing. It has also created applications for Android, iPhone and iPad.
The new live streaming feature will allow fans to go back on the time-line and watch any part of the match that they may have missed. The new video-on-demand feature has match highlights such as fours, sixes and face-offs between players.
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.
