DoT issues demand-cum-show notices to 6 telcos for Rs 29,474 crore
"Department of Telecom has issued demand-cum-show cause notices to six private telecom companies on the basis of C&AG Report No 4 of 2016, for four financial years ie 2006-07 to 2009-10 for a total amount of Rs 29,474 crore on account of licence fee (LF)," Telecom Minister Manoj Sinha today said in a written reply to Lok Sabha.
DoT has issued demand-cum-show cause notices to 6 telecom companies including Bharti Airtel, Vodafone and Idea Cellular for under-reporting revenues amounting to Rs 29,474 crore, Parliament was informed today.
"Department of Telecom has issued demand-cum-show cause notices to six private telecom companies on the basis of C&AG Report No 4 of 2016, for four financial years ie 2006-07 to 2009-10 for a total amount of Rs 29,474 crore on account of licence fee (LF)," Telecom Minister Manoj Sinha today said in a written reply to Lok Sabha.
This includes Rs 6,490 crore of LF, Rs 13,751 crore in interest, Rs 3,178 crore of penalty and Rs 6,055 crore for interest on penalty from the six operators, he added.
"The figure of Rs 6,490 crore is the revised LF demand which includes Rs 3,794 crore of LF demand already raised by DoT on account of Regular and Special Audit Demands," he said.
The notice has sought Rs 8,162 crore from Bharti Airtel, Rs 7,701 crore from Reliance Group, Rs 5,718 crore from Tata Teleservices, Rs 4,695 crore from Vodafone, Rs 2,708 crore from Idea Cellular and Rs 490 crore from Aircel.
The LF is calculated as a percentage of Adjusted Gross Revenue. The definition of AGR is under litigation since 2003. The matter is presently pending in the Supreme Court.
As per orders of the SC, DoT has been barred from taking any coercive step to recover the dues.
"One of the telecom service providers ie Reliance Communications Ltd has challenged these demands in Telecom Disputes Settlement and Appellate Tribunal (TDSAT) vide petition no. 71 of 2016. Matter is pending in TDSAT," he said.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Retirement Planning: SIP+SWP combination; Rs 15,000 monthly SIP for 25 years and then Rs 1,52,000 monthly income for 30 years
Retirement Calculator: 40 years of age, Rs 50,000 monthly expenses; what should be retirement corpus and monthly investment
SBI 444-day FD vs Union Bank of India 333-day FD: Know maturity amount on Rs 4 lakh and Rs 8 lakh investments for general and senior citizens
EPF vs SIP vs PPF Calculator: Rs 12,000 monthly investment for 30 years; which can create highest retirement corpus
Home loan EMI vs Mutual Fund SIP Calculator: Rs 70 lakh home loan EMI for 20 years or SIP equal to EMI for 10 years; which can be easier route to buy home; know maths
04:54 PM IST