 "AGR: Voda pays Rs 3,354 cr; SC dismisses plea against one-time spectrum fee")
Vodafone Idea on Monday paid a further amount of Rs 3,354 crore to the DoT as the balance part of principal amount towards adjusted gross revenue (AGR) liabilities. Earlier, the Supreme Court dismissed a petition filed by the company against the levy of one-time spectrum charges by the government.
The Department of Telecommunications (DoT) had sought to levy a one-time spectrum charge over 6.2 MHz held by the telecom service provider.
Senior advocate Abhishek Manu Singhvi, appearing for Vodafone, told a bench of Justice Arun Mishra and Justice MR Shah that the charges are related to the adjusted gross revenue (AGR). "Don't pay anything... not this, not AGR. You will still not be touched," Justice Mishra said while dismissing the plea.
The development comes after the telecom companies paid their AGR dues to the central government after the apex court pulled them up for violating its earlier order and not paying the money on time.
While Vodafone Idea Ltd (VIL) has pegged its dues arising from a Supreme Court ruling that asked for non-telecom revenues to be included in calculating spectrum charges and licence fee at Rs 21,533 crore, the DoT puts the estimate at Rs 53,000 crore — Rs 24,729 crore of spectrum dues and Rs 28,309 crore as the licence fee.
Vodafone Idea on Monday paid a further amount of Rs 3,354 crore to the DoT as the balance part of principal amount towards adjusted gross revenue (AGR) liabilities.
In its filing to the exchanges, Vodafone Idea said: “The company has paid the full principal amount of Rs 6,854 crore towards the AGR dues.”
In an earlier filing on March 6, the company had said it had filed its self-assessment of the AGR liabilities with the DoT, pegging them at Rs 21,533 crore, including a principal amount of Rs 6,854 crore for the said period. “The company has already paid a sum of Rs 2,500 crore on 17 February 2020 and a further sum of Rs 1,000 crore on 20 February 2020 towards this liability,” it had said then.
The Department of Telecommunications (DoT) had sought to levy a one-time spectrum charge over 6.2 MHz held by the telecom service provider.
Senior advocate Abhishek Manu Singhvi, appearing for Vodafone, told a bench of Justice Arun Mishra and Justice MR Shah that the charges are related to the adjusted gross revenue (AGR). "Don't pay anything... not this, not AGR. You will still not be touched," Justice Mishra said while dismissing the plea.
The development comes after the telecom companies paid their AGR dues to the central government after the apex court pulled them up for violating its earlier order and not paying the money on time.
While Vodafone Idea Ltd (VIL) has pegged its dues arising from a Supreme Court ruling that asked for non-telecom revenues to be included in calculating spectrum charges and licence fee at Rs 21,533 crore, the DoT puts the estimate at Rs 53,000 crore — Rs 24,729 crore of spectrum dues and Rs 28,309 crore as the licence fee.
Vodafone Idea on Monday paid a further amount of Rs 3,354 crore to the DoT as the balance part of principal amount towards adjusted gross revenue (AGR) liabilities.
In its filing to the exchanges, Vodafone Idea said: “The company has paid the full principal amount of Rs 6,854 crore towards the AGR dues.”
In an earlier filing on March 6, the company had said it had filed its self-assessment of the AGR liabilities with the DoT, pegging them at Rs 21,533 crore, including a principal amount of Rs 6,854 crore for the said period. “The company has already paid a sum of Rs 2,500 crore on 17 February 2020 and a further sum of Rs 1,000 crore on 20 February 2020 towards this liability,” it had said then.
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