Pending spectrum and adjusted gross income funds: Airtel opts for 4-yr moratorium to pay dues

Bharti Airtel on Monday grew to become the second of the three personal telcos to go for the choice to defer by 4 years the cost of spectrum in addition to adjusted gross income (AGR) dues.
In a notification to the exchanges, Airtel stated it could take each the choices with quick impact. Last week, Vodafone Idea (Vi) had informed the Department of Telecommunications (DoT) that it could go for the four-year moratorium for the deferment of the 2 dues, specifically the spectrum in addition to the AGR dues.
The Centre just lately accepted a aid package deal for the sector that features a four-year break for corporations from paying statutory dues, permission to share scarce airwaves, change within the definition of income on which levies are paid and 100 per cent international funding by way of the automated route.

The measures additionally embrace scrapping of spectrum utilization cost (SUC) for airwaves acquired in future spectrum auctions. For the previous dues, the Centre has allowed a moratorium or deferment of as much as 4 years in annual funds. The authorities final week wrote to telecom operators asking them to convey by October 29 if they’d be choosing the four-year moratorium.
It has additionally given 90 days’ time to the telcos to point in the event that they wish to go for changing the curiosity quantity pertaining to the moratorium interval into fairness. Along with this feature, the audited monetary statements of the instantly previous monetary yr (FY21) must be submitted, as per the letter to telcos.