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Vodafone Thought pays Rs 1,367 cr to govt in the direction of licence price, spectrum costs for Jan-Mar quarter

Vodafone Idea pays Rs 1,367 cr to govt towards licence fee, spectrum charges for Jan-Mar quarter

Vodafone Thought pays Rs 1,367 cr to govt in the direction of licence price, spectrum costs for Jan-Mar quarter

Telecom operator Vodafone Thought has submitted about Rs 1,367 crore to the federal government in the direction of licence price and spectrum utilization costs (SUC) cost for the March 2020 quarter.

Sources stated the Division of Telecom (DoT) has acquired the cost made by Vodafone Thought this week and added that different operators had already submitted their dues.

When contacted, Vodafone Thought spokesperson declined to touch upon the newest cost, or the way it was funded.

Sources, in the meantime, stated that Reliance Jio and Bharti Airtel had already made their stipulated funds of about Rs 1,600 crore and 1,440 crore, respectively in the direction of licence price and SUC for the recently-concluded quarter.

It’s pertinent to say that business physique Mobile Operators’ Affiliation of India (COAI) had final month approached the DoT looking for 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 Charge and Spectrum Utilization Cost (income share) by March 25 for This autumn 2019-20, on the premise of anticipated income for the quarter, topic to a minimal cost of Q3 be allowed to be made by April 30, 2020 with none curiosity cost.

It had urged DoT for vital directions and clarifications to discipline places of work on this regard.

Sources, nonetheless, stated that VIL made the cost as no extension in timeline was granted on the dues, after the business affiliation’s submissions to the DoT.

As it’s, the telecom business, is confronted with Adjusted Gross Income (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 Thought and Tata Group have been a whopping Rs 82,300 crore wanting what the telecom division had calculated after the Supreme Courtroom’s ruling on AGR.

The apex courtroom had beforehand lashed out on the telcos for attempting to reopen the dues they owed to the federal government by the self-assessment train.

These dues arose after the Supreme Courtroom, 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 Cupboard, an utility was moved earlier than Supreme Courtroom (on March 16, 2020) looking for 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.

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