City
Epaper

Vodafone pays Rs 1,000 crore to DoT towards AGR dues

By ANI | Updated: July 18, 2020 17:40 IST

Vodafone Idea has paid a further sum of Rs 1,000 crore to the Department of Telecommunications (DoT) towards adjusted gross revenue (AGR) dues, the financially-strapped telecom major said on Saturday.

Open in App

Vodafone Idea has paid a further sum of Rs 1,000 crore to the Department of Telecommunications (DoT) towards adjusted gross revenue (AGR) dues, the financially-strapped telecom major said on Saturday.

It had earlier deposited Rs 6,854 crore in three tranches. "The company has thus paid an aggregate amount of Rs 7,854 crore towards the AGR dues," it said in a statement.

On October 24 last year, Supreme Court ruled in favour of the DoT definition of AGR that all revenue from telecom compes will be used for calculating it.

The apex court rejected the argument of incumbent telecom operators (mainly Vodafone Idea and Bharti Airtel) that the AGR only included licence and spectrum fees.

The court's decision stemmed from a long-running dispute between incumbent service providers and the government on how to calculate the state's share of revenue, which it receives as part of the fee for handing over telecom spectrum.

The compes argued that only their revenue from the use of spectrum should count. The government wanted a share of everything including, for example, revenue from rent.

Reports say Vodafone Idea owes as much as Rs 54,000 crore in AGR dues to the government. On March 6, however, it had filed a self-assessment of AGR liabilities with the DoT, in which AGR liability principal amount of Rs 6,854 crore was determined for the period from financial years 2006-07 to 2018-19.

A month ago, the Supreme Court asked the telecom operators to file audited balance sheets for the past 10 years including for the calendar year ending March 31 as well as income tax returns and particulars of AGR deposited during the last 10 years.

It also called for making payments of a reasonable amount to show their bonafides before the next date of hearing.

( With inputs from ANI )

Tags: Vodafone IdeaAGR
Open in App

Related Stories

BusinessVodafone Idea on the Hunt for New CEO, After Govt Converts Rs. 36,950 Crore Dues Into Equity

BusinessVodafone Idea Share Price Hits 10% Upper Circuit, After Govt Converts ₹36,950 Crore Dues Into Equity

BusinessGovt To Raise Stake in Vodafone Idea From 22.6% to 49%, With Fresh Share Acquisition Worth Rs 37,000 Crore

TechnologyVodafone Idea Recharge Plans to Get Costlier for Heavy Data Users? Know What Company Official Says

BusinessVodafone Idea FPO: Share Price Surges To 7.27% on NSE, Raises ₹18,000 Crore in Record FPO

Business Realted Stories

BusinessPiyush Goyal highlights key engagements across banking, MSMEs, aerospace, and infrastructure

BusinessIPL valuation hits $18.5 bn, up 12.9%, fueled by media rights, sponsors, and fan engagement

BusinessIndian stock markets to track Q1 earnings, tariff talks, and macroeconomic data this week: Experts

BusinessCentre's semiconductor push could cut chip imports by USD20 bn: McKinsey

BusinessBillionaires gather in Sun Valley in US for Allen & Co.'s annual conference