MAM
Wizcraft sets foot in Sri Lanka
MUMBAI: Communication and event management company Wizcraft International Entertainment Building has expanded into Sri Lanka in keeping with spreading its business across Asia.
The company has entered into a joint venture with Sri Lankan events company Event Concepts, which is a subsidiary company of Green Lanka Group, to form Wizconcept Events and Entertainment Private Limited.
The JV will be based out of Colombo, Sri Lanka.
With this move, Wizcraft now has full-fledged offices in Singapore, Dubai, Muscat and Sri Lanka and Wizcraft representatives in Los Angeles, UK and other parts of the world.
Wizcraft International director Sabbas Joseph said, “We had a wonderful experience when we worked with Event Concepts during the IIFA Weekend in Colombo in 2010 and on other occasions. Wizcraft believes in creating experiences not just events and partnering with the very best in the business. While we already have a presence in Sri Lanka, we felt that partnering with Event Concepts, an organization that shared our vision and drive would only strengthen that presence. ”
Wizcraft International and Event Concepts have decided to join forces and revolutionise the events space in Sri Lanka.
Speaking about the new liaison with Wizcraft Green Lanka Group, joint managing director Kushani Nanayakkara said, “Wizcraft is the largest entertainment company in South Asia. I believe that both companies share a passion for creating spectacular events and this partnership will lead to a revolution in the events sector in Sri Lanka.”
From its inception in 2006, Event Concepts have aimed to be the leading provider of event solutions to the entertainment sector in Sri Lanka. Having seen considerable success on the island, they expanded their reach to Dubai and London, creating a range of large scale events locally and internationally.
Event concept has executed several large events including the SAARC Conference dinner, Mihin Lanka launch in Singapore, high end fashion events with reputed international designers, live concerts, cultural events at the SAARC conference and a range of events during the IIFA weekend.
India’s largest global event, which was held in Colombo in 2010, Event Concept has also paved an avenue in distributing blockbuster films in Sri Lanka challenging the status quo. The two companies will now come together to create Wizconcept Events & Entertainment Private Limited.
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.
