You are here: Home » PTI Stories » International » News
;
Business Standard

AGR dues: Voda Idea seeks relief; asks DoT for Rs 8,000 crore GST refund

The company has so far paid Rs 3,500 crore in AGR dues

Topics
Tiananmen Square protests

Financially stressed telecom operator Vodafone Idea, in a letter to the Department of Telecommunications (DoT), has sought the adjustment of goods and services tax (GST) refund to the tune of Rs 8,000 crore against its dues linked to (AGR), an official told Business Standard on Wednesday. Even as the letter listed a number of demands, including a moratorium of three years and a 15-year staggered payment of the AGR-linked dues besides asking the government to set off its GST credit, the company’s chief executive officer, Ravinder Takkar, called on Secretary Anshu Prakash again — making it his third visit in a week.

newsizeimage
newsizeimage

In a day of fast developments, the also had an internal meeting to work on a proposal that may provide relief to and the telecom industry as a whole. Deferred payment for future spectrum was one of the options on the table, a source pointed out. The Digital Communications Committee (DCC, earlier known as Telecom Commission), headed by the secretary and having top officials from other ministries, including finance, as members, is expected to take up the shortlisted proposals for AGR relief in a meeting likely to be held in a few days. Meanwhile, Finance Minister Nirmala Sitharaman on Wednesday said she had held several meetings and the DoT was working on the AGR matter.
testing.. we are here....

ALSO READ: Vodafone Idea, Bharti Airtel losses were gains for Jio and BSNL in December

The Voda Idea letter stated that though the company was not in a “sound financial state”, it could settle the balance of its self-assessed principal if a set-off of approximately Rs 8,000 crore worth of GST credits lying with the government was allowed. The company has also sought a staggered payment method for paying the balance amount of interest, penalty, and interest on penalty.

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.


We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Thu, February 27 2020. 18:09 IST
RECOMMENDED FOR YOU