Airtel submits Rs 8000 crore more as AGR dues

Bharti Airtel has paid the telecom department Rs 8000 crore more as statutory dues in its second tranche, taking the total amount paid by the operator to the government to Rs 18,000 crore .The latest deposit as adjusted gross revenue (AGR) dues is split into Rs 3000 crore as full and final towards its AGR dues, based on its self assessment. It paid an additional Rs 5000 crore as “ad-hoc payment”, subject to refund after the telecom department reconciles it's own estimates with the telco's.“...the Company has paid an additional amount of Rs. 3,004 crores towards the full and final amounts due over & above the ad-hoc amount of Rs, 10,000 crores paid on February 17, 2020 on behalf of the Bharti Group of Companies (Sharti Airtel, Sharti Hexacom and Telenor India),” said the telco in a regulatory filing on Saturday . “In addition to the aforesaid amounts paid basis our self-assessment, we have also deposited an additlonal amount of Rs. 5,000 crores, as an ad-hoc payment,”(subject to subsequent refund / adjustment) to cover differences, if any, arising from the reconciliation exercise with the DoT,” it added .This means Airtel has paid Rs 18,000 crore in all compared to AGR demands of about Rs 35,000 crore .The operator had earlier paid Rs 10,000 crore as AGR dues and it looks like the second tranche will be its final one . The telco has also submitted its self assessment to DoT.

from Economic Times https://ift.tt/3ceCSZ7