MAM
Usha International sets up in-house ad agency – Goldilocks
NEW DELHI: Even as it awarded the creative mandate of Usha Fans to Grey Group India recently, consumer durables conglomerate Usha International has set up an in-house advertising agency called Goldilocks India.
The agency, which will be a 100 per cent subsidiary of Usha International, will initially take care of all the creative mandates of the different business verticals within the company.
Usha International vice president Anju Munjal said, “The setup of an in house agency is aimed to provide better focus and timeline adherence to the advertising, marketing and brand communication of the company. In the initial days Goldilocks will be working on creative mandates within the company. We are looking to hire a senior resource from within the industry who will be responsible for overall creative and strategic inputs to the company.”
Goldilocks will function as an independent company like any other conventional advertising agency and will sport the tagline – “We get things just right.”
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.
