The Supreme Court on Friday dismissed a plea of telecom companies for correction of alleged errors in adjusted gross revenue (AGR) calculation. The top court had in September last year granted telecom companies a period of 10 years to clear their pending AGR dues to the central government with 10 per cent payment every year.
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Telecom operators, including Bharti Airtel and Vodafone Idea, which have pending adjusted gross revenue dues will have to pay 10% of the total liability by March 31 irrespective of the part-payments made by them, according to sources. Operational telecom operators are expected to pay Rs 12,921 cr by March 31, of which close to 80% … Continue reading ‘Telcos need to pay 10% of total AGR dues by Mar 31’
The Supreme Court on Tuesday granted telecom companies 10 years to clear AGR (adjusted gross revenue) dues of around Rs 1.43 lakh crore to the Centre, providing much needed relief to some of the telcos which could have faced the prospect of winding up their operations for being unable to pay the entire amount at … Continue reading SC grants 10 yrs to pay AGR dues of Rs 1.5L cr
The telecom operators have been paying service tax and then GST under the reverse charge mechanism (RCM) on licence fees (LF) and spectrum usage charges (SUC) made to the department of telecom (DoT) for the period starting April 1, 2016.
The Supreme Court on Friday, while hearing the adjusted gross revenue (AGR) payment matter, asked the department of telecommunications (DoT), secretary, to file a detailed affidavit on the issue of the dues to be paid by the users of shared spectrum.
Reliance Jio told the Supreme Court on Tuesday that it has already paid Rs 195 crore in AGR-related dues which included spectrum sharing charge of Reliance Communications. It said there is no question of one operator paying the adjusted gross revenue (AGR) related dues of another firm, as suggested by the apex court earlier, and … Continue reading Paid Rs 195 crore AGR related dues: Jio tells SC
The Supreme Court Monday said it will not hear “even for a second” arguments on re-assessment of adjusted gross revenue (AGR) related dues of telecom companies which approximately run into Rs 1.6 lakh crore. A bench of Justices Arun Mishra, S Abdul Nazeer and M R Shah reserved its verdict on the issue of timeline … Continue reading ‘Won’t hear arguments on reassessment of AGR dues’
Telecom operator Vodafone Idea on Saturday said it has paid an additional Rs 1,000 crore to the government towards the statutory dues, taking its total payment to an aggregate Rs 7,854 crore. The fresh payment comes at a time when the Supreme Court is slated to hear the AGR matter on July 20. The company … Continue reading Voda Idea pays another Rs 1,000cr towards AGR dues
Telecom players have urged regulator Trai to move forward quickly on the issue of fixing floor price for tariffs, saying the matter is imperative to ensure that the sector is sustainable and in a position to bear the deferred spectrum and AGR dues. The Cellular Operators’ Association of India has written to the Trai seeking … Continue reading Telcos approach Trai seeking early decision on floor price issue
Bharti Airtel, Vodafone Idea and Tata Group’s self-assessment of dues to the government are a whopping Rs 82,300 crore short of what the telecom department calculated after the Supreme Court’s ruling on AGR (adjusted gross revenue).
The Supreme Court on Wednesday told telecom operators to settle all dues and termed the 20 years’ time frame proposed by the government for AGR (adjusted gross revenue) payment as “unreasonable”.
The government will form an expert group to decide over Rs 82,300-crore disputed AGR (adjusted gross revenue) claims that have arisen due to differences between the outstanding payment sought by the telecom department (DoT) and those claimed by private telecom companies such as Vodafone Idea, Airtel and Tata Group.
Loss-making telecom operator Vodafone Idea on Monday said it has made an additional payment of Rs 3,354 crore towards adjusted gross revenue (AGR) to the department of telecom (DoT), thereby completing payment of principal amount calculated on self-assessment basis. With this fresh payment, Vodafone Idea (VIL) has paid Rs 6,854 crore towards AGR dues.
A week before Supreme Court-mandated deadline for payment of past dues ends, Bharti Airtel chairman Sunil Mittal on Wednesday said that the company has paid Rs 13,000 crore to the government to clear all its dues as per its self-assessment.
British telecom major Vodafone on Friday assured the government that it wants to stay invested in India and does not want to call it quits as it faces massive dues over the Supreme Court’s AGR (adjusted gross revenue) judgement.
The department of telecom (DoT) wrote to all the telcos asking them to pay balance dues “without delay” and also submit detailed bifurcation of payments (explanation of self assessed amounts), which are necessary for proper reconciliation of legitimate dues.
As Vodafone Idea faces a survival battle due to the massive AGR (adjusted gross revenue) bill of over Rs 53,000 crore, Vodafone’s global CEO Nick Read will be visiting India later this week and he is expected to impress upon the government for a bailout.
Telecom operator Bharti Airtel on Saturday said that it has made additional payment of Rs 8,004 crore towards adjusted gross revenue (AGR) dues to the department of telecom (DoT). The payment of Rs 8,004 crore is in addition to Rs 10,000 crore the company paid on February 17, 2020 in compliance to the Supreme Court … Continue reading AGR dues: Bharti Airtel pays additional Rs 8,004cr
The telecom department is working on at least three options to defer the Rs 1.47 lakh crore adjusted gross revenue (AGR) liability of telcos – Vodafone Idea and Airtel, including proposals to let the operators pay around 20% of the outstanding amount upfront. “There is a need to see that the industry doesn’t end up … Continue reading DoT working on 3 options for telco bailout
Industry body COAI has sent out a distress signal to the govt seeking easier terms for payment of statutory dues by telcos, including an extension of loans at lower rates to cover AGR liabilities, and a fast implementation of floor prices, to rescue the sector. With the crisis in telecom industry, COAI has raised an … Continue reading AGR: COAI rings alarm bells; asks to ease terms
In perhaps the first step towards invoking bank guarantees of defaulting mobile companies over the adjusted gross revenue (AGR) matter, the department of telecom (DoT) has started circlewise calculation of dues of operators towards various statutory payments.
The department of telecom has sought the opinion of Solicitor General Tushar Mehta and other top legal minds on invoking bank guarantees (running into several thousand crores) for “delays” in realising “full dues” from mobile operators, who had been ordered to pay dues up to Rs 1.47 lakh crore in 3 months, following the October … Continue reading DoT seeks legal view to recover dues
Equity indices closed in red for the fourth consecutive session on Tuesday as the ongoing AGR (adjusted gross revenue) issue weighed on telecom and financial stocks. The benchmark BSE sensex fell 161.31 points or 0.39 per cent to close at 40,894.38. While, the broder NSE Nifty finished 53.30 points or 0.44 per cent lower at … Continue reading Sensex falls 161 points to close at 40,894
State Bank of India (SBI) chairman Rajnish Kumar on Friday said the bank was prepared for the worst following the Supreme Court order asking telecom companies to immediately pay adjusted gross revenue (AGR) dues to the government. SBI has Rs 29,000-crore loan exposure to telecom, the largest among Indian banks.
Department of telecommunications set Friday midnight as the deadline for private telecom majors and some big PSUs to cough up Rs 4 lakh crore they had been directed to pay to the govt as part of the licensing agreement. Noting that telecom companies had not paid “even a penny” in the last four months, the … Continue reading AGR dues: Airtel to pay Rs 10,000 cr by Feb 20
The department of telecom (DoT) on Friday ordered Bharti Airtel, Vodafone Idea and others to pay their AGR (adjusted gross revenue) dues by 11:59 pm Friday. The order comes just hours after the SC issued notice to the companies and their directors to explain why contempt proceedings shouldn’t be initiated against them for not paying … Continue reading DoT orders telecom companies to clear dues by midnight
The Supreme Court on Friday issued notice to telecom companies and their directors directing them to explain why contempt proceedings shouldn’t be initiated against them for not complying with its order to pay adjusted gross revenue (AGR) of Rs 1.47 lakh crore to the department of telecommunications (DoT).
Vodafone Idea on Thursday reported widening of losses to Rs 6,438.8 crore in October-December 2019 against Rs 5,004.6 crore in the year-ago period as the AGR (adjusted gross revenue) dues-hit telco reeled under the impact of increased finance costs and higher depreciation of assets.
Reliance Jio on Thursday paid Rs 195 crore to the telecom department to clear all adjusted gross revenue (AGR) dues accounted till January 31, 2020, according to an official source. The company has made provision of Rs 177 crore to pay for the government revenue share based on the Supreme Court judgement dated October 24, … Continue reading Jio pays Rs 195cr to DoT to clear AGR dues