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Vodafone Idea Pays Rs 3,354 Crore Towards AGR dues

Highlights
  • Vodafone Idea has paid Rs 3,354 crore in the direction of a last settlement of the principal quantity of AGR dues
  • The telco large has appealed the federal government for GST refunds price Rs 8,000 crore
  • The last listening to relating to AGR dues is scheduled for March 17, 2020

The Supreme Court’s verdict relating to the fee of AGR dues has been giving large monetary misery to telco giants akin to Vodafone Idea, Bharti Airtel and others. In complete, the telcos have a pay a cumulative quantity of Rs 1.47 lakh crore to DoT in the direction of AGR dues. The supreme bench has famous that the telcos should clear their AGR dues earlier than the ultimate listening to on March 17, 2020. Vodafone Idea which is the affected probably the most from the choice has now cleared their self-assessed principal quantity of Rs 6,854 crore with the most recent fee being Rs 3,354 crore. Also, the telco large has appealed the federal government and requested for aid measures which might guarantee their viability available in the market.

Vodafone Idea Self-Assessed Dues Stand at Rs 21,000 Crore

As per DoT, Vodafone Idea has to pay a whopping quantity of Rs 53,000 crore. However, as per the self-assessment of AGR dues, the telco large has to roughly pay Rs 21,000 crore out of which Rs 6,854 crore is the principal quantity for the interval from FY 2006-07 to FY 2018-19. To clear off the huge legal responsibility, Vodafone Idea immediately has paid Rs 3,354 crore to DoT. Also, Vodafone Idea paid a sum of Rs 2,500 crore to DoT on February 17, 2020, and Rs 1,000 crore on February 20, 2020. With this quantity, Vodafone Idea has cleared and settled their self-assessed principal quantity in the direction of the AGR dues.

Vodafone Idea Appealed the Government for Relief Measures

In order to outlive the cash-crunch scenario, Vodafone Idea appealed the federal government for aid measures or else the telco large shall be pressured to close down their operations. Vodafone Idea requested the federal government to permit GST refunds of Rs 8,000 crore which might be additional settled of their AGR dues.

Not solely this, the telco large requested a discount in license charges together with a interval of 15 years to clear their AGR dues. To assist the distressed telco, the federal government is planning to supply tender loans on simple phrases which might assist the distressed telcos pay their AGR dues with none problem. Also, the federal government is planning to supply a aid package deal to all of the telcos affected by AGR disaster.

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