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The auction began on Monday and concluded on Tuesday at 12.45 PM, after a total of 6 rounds of bidding. The e-auction was based on the Simultaneous Multiple Round Ascending Auction (SMRA) methodology.
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The Tata group is in talks to raise funds to pay dues its loss-making telecom company owes. The Supreme Court served notices to Facebook its messaging app, WhatsApp, and the Indian goverment over the privacy rules of the two social media platforms. Here is more on those stories and other headlines.
Tata Sons dials banks to pay Rs 1,250 cr Tata Tele AGR dues and loans Tata Sons, the parent company of Tata Teleservices, is in talks with banks to raise funds to pay latter’s dues to the banks and to the Indian government. The loss-making telecom company has to pay Rs 1,250 crore of dues to banks and another 10 per cent of outstandings to the government as AGR (adjusted gross revenue) as per the Supreme Court judgement before March end, said a banking source. The DoT on March 16 last year had moved the Supreme Court seeking recovery of Rs 16,798 crore as the demand towards LF, Spectrum Usage Charges (“SUC”), interest, penalty and interest on penalty against Tata Group of compani
Telcos urge for regulating taxes in Budget
January 21, 2021
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Urge FM to regulate taxes including removal of GST on license fees, spectrum usage charges (SUCs) and payment of spectrum acquired in auction
The telecom operators in their Budget wishlist have urged the Finance Minister (FM) Nirmala Sitharaman to regulate taxes including removal of GST on license fees, spectrum usage charges (SUCs) and payment of spectrum acquired in auction.
In its recommendations letter to the FM, Cellular Operators Association of India (COAI) that represents the telcos said that currently, the total license fee (LF) having a rate of 8 per cent of adjusted gross revenue (AGR) is uniformly applicable to all licensees, of which 5 per cent goes to the Universal Service Obligation Fund (USOF) and the remaining 3 per cent is levied as LF.