Brands
Weekend Unwind with Shryoan Cosmetics’ Nischay Madnani
Mumbai: With another weekend upon us, it is time to unwind with the latest Q&A edition of Indiantelevision.com’s Weekend Unwind—a series of informal chats that peek into the minds of business executives through a fun lens in an attempt to get to know the person behind the title a little better.
In this week’s session, we have Shryoan Cosmetics founder and CEO Nischay Madnani.
Without further ado, here it goes…
Your mantra for life
My mantra for life is to embrace growth and stay curious. I believe that continuous learning and an open mind are essential for personal and professional development. By remaining curious and adaptable, we can navigate the ever-changing landscape of life with resilience and innovation.
A book you are currently reading or plan to read
I’m currently reading Zero to One by Peter Thiel, the founder of PayPal. This book offers a unique perspective on entrepreneurship and innovation, encouraging readers to think beyond conventional boundaries and explore new possibilities. It’s an inspiring read for anyone interested in building something truly original.
Your fitness mantra
My fitness mantra is to focus on progress rather than perfection. Fitness is a journey, and by celebrating small victories and improvements. I stay motivated and committed to maintaining a healthy lifestyle without the pressure of perfection.
Your comfort food
My go-to comfort food is Subway. It’s a versatile and satisfying option that allows me to indulge in a variety of flavors while maintaining a balanced diet.
A quote or philosophy that keeps you going when the chips are down
A quote that resonates with me, especially during challenging times is – ‘What’s in it for me?’.
This philosophy reminds me to stay focused on my goals and to make decisions that align with my personal and professional growth.
Your guilty pleasure
My guilty pleasure is food. I have a deep appreciation for good food, and indulging in a delicious meal is something I occasionally allow myself to enjoy without guilt.
The last time you tried something new
In January 2024, I had the exhilarating experience of flying a plane in Australia. It was a thrilling adventure that pushed me out of my comfort zone and gave me a fresh perspective on life.
A life lesson you learned the hard way
A hard-earned life lesson for me has been not to trust anyone too much or too blindly. Trust is essential, but it must be earned and balanced with discernment.
What gets you excited about life?
Spontaneous travel and adventures, along with meeting new people, are what truly excite me. The thrill of discovering new places and connecting with diverse individuals keeps life vibrant and full of possibilities.
What’s on top of your bucket list?
Seeing the Northern Lights is at the top of my bucket list. Experiencing this natural wonder is something I’ve always dreamed of, and it represents a connection to the beauty and mystery of our world.
If you could give one piece of advice to your younger self, what would it be?
I would tell my younger self to keep going, it gets better. Don’t be afraid to step out of your comfort zone; the most rewarding experiences often come from taking risks and embracing new challenges.
One thing you would most like to change about the world
If I could change one thing about the world, it would be to enhance women’s safety. Considering the ongoing issues globally, I feel that creating a safer environment for women is a necessary and urgent change.
An activity that keeps you motivated and charged during tough times
Staying physically active is what keeps me motivated and energized during tough times. Regular exercise not only boosts my physical health but also clears my mind and helps me stay focused.
What lifts your spirits when life gets you down?
When life gets tough, focusing on my goals lifts my spirits. Reconnecting with my purpose and the bigger picture helps me stay grounded and resilient.
Your go-to stress buster
Travelling is my go-to stress buster. Exploring new places and cultures rejuvenates me and provides a much-needed break from the routine, helping me return with a refreshed mindset.
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.
