Press "Enter" to skip to content

Vodafone Idea pays about Rs 1,367 crore to govt in direction of licence price, spectrum dues for This autumn

The apex courtroom had beforehand lashed out on the telcos for making an attempt to reopen the dues they owed to the federal government via the self-assessment train.

Telecom operator Vodafone Idea has submitted about Rs 1,367 crore to the federal government in direction of licence price and spectrum utilization fees (SUC) fee for the March 2020 quarter. Sources mentioned the Department of Telecom (DoT) has obtained the fee made by Vodafone Idea this week and added that different operators had already submitted their dues.

When contacted, Vodafone Idea spokesperson declined to touch upon the newest fee, or the way it was funded.
Sources, in the meantime, mentioned that Reliance Jio and Bharti Airtel had already made their stipulated funds of about Rs 1,600 crore and 1,440 crore, respectively in direction of licence price and SUC for the recently-concluded quarter. It is pertinent to say that trade physique Cellular Operators’ Association of India (COAI) had final month approached the DoT in search of prolonged timelime for telcos to make the statutory This autumn funds, which in any other case fall due on March 25.

Citing the “unprecedented circumstances” within the wake of coronavirus pandemic, the COAI had requested that the compliance requirement, which requires the operators to pay the License Fee and Spectrum Usage Charge (income share) by March 25 for This autumn 2019-20, on the idea of anticipated income for the quarter, topic to a minimal fee of Q3 be allowed to be made by April 30, 2020 with none curiosity fee. It had urged DoT for needed directions and clarifications to area workplaces on this regard.

Sources, nevertheless, mentioned that VIL made the fee as no extension in timeline was granted on the dues, after the trade affiliation’s submissions to the DoT. As it’s, the telecom trade, is confronted with Adjusted Gross Revenue (AGR) liabilities (previous statutory dues) of as much as Rs 1.69 lakh crore for 16 entities.

The self-assessment of previous dues estimated by telecom corporations like Bharti Airtel, Vodafone Idea and Tata Group had been a whopping Rs 82,300 crore wanting what the telecom division had calculated after the Supreme Court’s ruling on AGR.

The apex courtroom had beforehand lashed out on the telcos for making an attempt to reopen the dues they owed to the federal government via the self-assessment train. These dues arose after the Supreme Court, in October final yr, upheld the federal government’s place on together with income from non-core companies in calculating the annual AGR of telecom corporations, a share of which is paid as licence and spectrum price to the exchequer.

In March, following an approval by the Cabinet, an utility was moved earlier than Supreme Court (on March 16, 2020) in search of its permission for the licensees impacted by the AGR judgement to pay the unpaid quantity of previous DoT assessed/calculated dues in annual instalments over 20 years.

Get stay Stock Prices from BSE and NSE and newest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and observe us on Twitter.

Financial Express is now on Telegram. Click right here to affix our channel and keep up to date with the newest Biz information and updates.

Source hyperlink

Be First to Comment

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    %d bloggers like this: