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‘Don’t delay AGR dues, clear doubts by Dec 13,’ govt to telcos: Report

The Department of Telecommunications (DoT) sent a letter to all telecom license holders, including non-telecom companies, last week, warning them against delays in payment of adjusted gross revenue (AGR) dues, and asking them to clear all doubts about the Supreme Court judgement by December 13, the Economic Times reported. The letter also asked the companies to speed up the self-assessment process of AGR-based dues and their payments.

About 15 companies need to pay over ₹1.47 lakh crore, which could rise further, the government reportedly said. Industry estimates pin money owed by non-telecom companies at around ₹2.28 lakh crore, the ET report said. The AGR order, as per the government, will be applicable to all telecom licensees, including GAIL, RailTel, Power Grid, etc. Non-telecom companies, such as internet service providers (ISPs), have asked for PMO’s intervention to resolve the issue.

The Supreme Court, in October, had ordered telecom companies to include non-core income for calculation of AGR, and asked them to pay Rs 92,640 crores to the Centre, which includes disputed demand, interest, and penalty. As a result, Vodafone Idea posted a staggering loss of Rs 50,897 crore for Q2FY20, which is the biggest quarterly loss in India’s corporate history, and Bharti Airtel reported a net loss of Rs 23,045 crore in the same quarter.

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    © 2008-2018 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ