Home Business Telecom Company Vodafone Idea pays Rs1000 crore for AGR Dues

Telecom Company Vodafone Idea pays Rs1000 crore for AGR Dues

Friday, Vodafone IDea paid Rs1000 crores instalment to DoT for its dues of adjusted gross revenue.

The Telecom Company earlier deposited Rs 6,854 crores.

The DoT’s AGR estimate for Vodafone Idea was Rs 58,254 crore and Rs50,000 crore is still left to be payed despite the latest payment.

The payment relates to a Supreme Court judgement on 24 October last year, when the apex court upheld the government’s broader definition of AGR, on which it calculates various levies like spectrum usage charges and license fees.

The DoT’s estimate for Vodafone Idea was ₹58,254 crore, of which around ₹50,000 crore remains outstanding despite the newest payment.

In total, the apex court’s order had led to a requirement of around ₹1.69 trilion on the telecom industry, including Vodafone Idea Ltd, Bharti Airtel and therefore the Tata group.

Initially after the self-assessment, the govt had allowed telecom firms to self-assess their dues, which led to a sharply lower estimate. Vodafone Idea, for instance , estimated ₹21,533 crore as its dues while Bharti Airtel’s self-assessment pegged its dues at ₹13,004 crore against the DoT’s estimate of ₹43,980 crore, including the dues of Telenor India.

However, dealing an extra blow to India’s struggling telcos, the Supreme Court in March shot down the telecom ministry’s self-assessment directive and asked the govt to stay to its original demand for ₹1.69 trillion.

The apex court bench headed by Justice Arun Mishra, though, is hearing arguments on the government’s petition to permit companies to form staggered payments over a 20-year period at its next hearing, likely after fortnight .

Reliance Jio Infocomm Ltd is that the only firm which has paid quite the DoT estimate. While the govt estimate pegged dues of the corporate , launched in September 2016, at ₹70.5 crore, the Reliance Industries Ltd subsidiary paid ₹195 crore.

The Tata group paid about ₹4,197 crore, much less than the ₹16,798 crore estimated by the DoT for the group’s telecom firms which are shuttered.

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