Key Points
New Delhi: The department of telecommunications (DoT) is likely to give an extension to Vodafone Idea (Vi) for clearing the licence fee and spectrum usage charge for the first quarter of the current fiscal year, officials said.. Adequate time needs to be given to the telco to raise funds, especially now that potential investors have comfort from the government taking equity in Vodafone Idea, they said..
For the past three quarters, the cash-strapped telecom operator has not been making full payment of the levies at the designated time of payment..
But it has been clearing its dues regularly as per the extended timeline granted by the DoT...
The telecom reforms announced by the government in September 2021 had scrapped the provision for charging penalty on top of interest for making delayed payments, including of statutory dues...
To provide relief, the telecom department in February converted the firm's accrued interest on deferred adjusted gross revenue (AGR) dues worth 16,133 crore into equity.. (Catch all the Business News, Breaking News Events and Latest News Updates on The Economic Times.)..
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