New Delhi. The telecom sector has been in turmoil for a very long time. Especially the Supreme Court's choice on AGR i.e. adjusted gross income has put the telecom firms beneath strain. For data, please inform that AGR is a utilization and license cost, which the telecom firms pay to the Department of Telecommunications. But there was a dispute about AGR. The Department of Telecommunications has been saying that AGR needs to be calculated on the full revenue of a telecom firm, together with accrued curiosity or revenue together with sale of belongings. At the identical time, the telecom firms have solely been advocating the imposition of AGR on the revenue of telecom providers. But the Supreme Court dominated in opposition to the telecom firms on this case. <! –
This led to speak of paying AGR of hundreds of crores of rupees in entrance of Jio, Airtel and Vodafone. The Supreme Court had laid a deadline of 23 January to pay AGR to telecom firms.
– Airtel and Vodafone need to pay an enormous blow from Supreme Court, AGR
Jio paid AGR
Jio's AGR legal responsibility was a lot decrease than Airtel and Vodafone. Of this, AGR owes about Rs 35,500 crore on Airtel and about Rs 53,000 crore on Vodafone Idea. But Reliance Jio solely needed to pay the dues of Rs 195 crore, which the corporate has made on 23 January today. But until now Airtel and Vodafone haven’t paid their respective dues. In the case of AGR, Jio is now free. But Airtel and Vodafone are nonetheless caught.
Why Airtel and Voda didn’t pay
Unlike Jio, Airtel and Vodafone haven’t paid the excellent AGR. Actually, after the evaluation petition was rejected within the Supreme Court, Airtel and Vodafone have filed an amended petition within the apex court docket, which can be heard within the court docket subsequent week. Due to the deadline to pay the excellent AGRs, these two firms had today requested the Department of Telecommunications to be allowed to pay AGR until their petition is heard within the Supreme Court. Hence Airtel and Vodafone haven’t paid the excellent AGRs in the intervening time.
Airtel, Voda modified the choice
Let us let you know that Airtel, Vodafone and Tata Teleservices collectively have an excellent AGR of Rs 1.02 lakh crore. However, these telecom firms had plans to deposit a few of this cash by the deadline of 23 January. But then it was thought-about that she may wait on the matter until the apex court docket listening to the amended petitions. That is, they’ve time to repay the AGR till their petitions are heard.