Government has asked Airtel, Vodafone Idea & Others to pay balance Adjusted Gross Revenue (AGR) dues without further delays.
This News is Brought to You by SATiiTV.COM
The Department of Telecom (DoT) wrote to all the telecom companies 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.
The telecom department has asked operators to pay their balance Adjusted Gross Revenue (AGR) dues without any further delay, increasing pressure on the likes of cash-strapped Vodafone Idea which is seeking some relief on its liabilities in a bid to survive.
The government has so far received about Rs 26,000 Crores from AGR payments. This is against DoT estimated dues of over Rs 1.46 lakh crore.
Vodafone Idea is the most precariously placed, having paid Rs 3,500 crore of the Rs 53,000 crores, as estimated by the DoT. It has said it will shut down if its bank guarantees are invoked to recover some part of its dues or if it doesn’t get relief on its AGR dues. Its self-assessment has pegged its AGR dues at around Rs 23,000 crore.
The government has placed Airtel’s AGR payments (including Telenor’s) at Rs 10,000 crore, noting that as much as Rs 27,740 crore is pending. The telco had initially paid Rs 10,000 crore, has estimated its dues at Rs 13,0004 crore, against the DoT’s estimate of Rs 37,740 crore.
Data shared by the government showed that the Tata paid Rs 2,197.3 crore, pegging their remaining AGR dues at Rs 11,625 crore, which implies that the government hasn’t taken into account the Rs 2,000 crore that the company paid on 3rd March 2020. Additionally, the government said that Reliance Communications and Reliance Telecom – which are undergoing insolvency proceedings – have paid Rs 3.96 crore, leaving their balance dues at Rs 21,135.6 crore.
Supreme court had ruled that AGR should include non-core items, that left Airtel, Vodafone Idea and Tata Teleservices alone collectively saddled with around Rs 1.02 lakh-crore of dues. Including the three, 15 telcos face dues worth Rs 1.46 lakh crore, as per DoT’s estimates.