Voda Idea to govt: Set off Rs.8K-cr GST credits against AGR Duties
The company has so far paid Rs.3500 Cr. in AGR duties.Its self assessment showed that the firm was required to pay a total of Rs.23000 cr, of which Rs.7000 Cr. is the principal amount. The DoT calculation of Voda Idea's AGR dues is estimated at more than Rs.50000 CR. out of a total bill of Rs.1.47 trillion to be paid by some 16 telecoms, many of which have gone of business.
In 2016 the government had fixed the spectrum usage charge (SUC) at 3 per cent for future actions and decided to allow a weighted average formula for all existing spectrum allocations with a floor of 3per cent. Now Vodafone Idea wants SUC to be reduced to 1 per cent from the current 3 per cent.
"The root cause of the financial stress has been the below -cost pricing of the telecom services forced by competitive pressures.There was some increase in market prices in 2019, but that's far from enough to over costs. Further increase in price is unlikely without a floor price regulation,"the company said. Pressing for a floor price, a concept that is being considered by the Telecom Regulatory Authority of India,Vodafone Idea said it must be immediately made effective with elements such as fixed connectivity charge as well as outgoing voice and data price.Currently, telecom tariff is under forbearance.
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