MAM
Timex launches new collection to celebrate 150th anniversary
MUMBAI: Timex Watches has clocked 150 years of existence worlwide! To commemorate the occasion, Timex brand ambassador Brett Lee has launched the Timex 150 years watch collection.
The new collection comprises of 25 styles, 14 of which are for men. The watches in this collection are based on the latest trends from the Basel 2004 Watch Fair, lending a futuristic appeal to the collection.
The men’s collection has steel watches in wide leather straps with bolder stitches. The watches are both in soft muted and bright metallic colours and have retro influence on designs with multiple graphic features dial. The women’s collection are in squares and rectangular shape with wide cuff leather straps; particularly white leather straps. The main highlight of the women’s collection is the use of floral and rainbow colours in metallic hues for the dials.
Lee was quoted in an official release saying, “The Timex brand is known for its sporty, techie and futuristic watch collection. I am sure that Timex, which is catching up with my speed of 160 kmph, will soon reach even greater heights”.
Last year Timex reached the landmark of selling one billion watches worldwide.
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.
