Following the Supreme Court’s order allowing Vodafone Idea’s AGR reassessment up to FY17, Bharti Airtel will now approach the government for similar relief. Gopal Vittal said the company seeks a fair, non-discriminatory review of its dues.
The Supreme Court denied pleas from Vodafone Idea, Bharti Airtel, and Tata Teleservices for a waiver of Adjusted Gross Revenue dues. Vodafone Idea faces severe financial pressure, warning it may cease operations by FY26 without government aid. Airtel sought relief from interest and penalties, emphasizing the ruling’s financial burden on the telecom sector.
The Supreme Court provided a big relief to Vodafone Idea by ordering a tax refund of Rs 1,128 crore. This amount relates to excess prepaid taxes paid by the telecom company. The court upheld Vodafone Idea’s claim, stating that the government must refund the excess tax amount. This decision comes as a boost for the financially struggling telecom giant.
Today, On 20th November, the Supreme Court ruled that telecom companies, including Airtel and Vodafone Idea, are eligible for CENVAT credit on items like tower parts and shelters. This decision clarifies their classification under tax rules, upholding a 2021 Delhi High Court ruling and overturning a prior Bombay High Court decision.
![[Revenue Dues] Vodafone Idea Requests Urgent SC Hearing of Rs.58,254 Crore AGR Dues](https://i0.wp.com/lawchakra.in/wp-content/uploads/2024/07/image-95.png?resize=447%2C367&ssl=1)
Today, On 15th July, Vodafone Idea urgently seeks Supreme Court hearing for clarity on debt funding to pay its Rs. 21,533 crore AGR dues, contested by DoT at Rs. 58,254 crore. The company aims to resolve financial crisis by disputing revenue definitions and restructuring government dues. Telecom companies challenge SC’s order for 10-year AGR payments amid significant financial implications.
The Calcutta High Court issued a stay on a ruling against Vodafone Idea, providing temporary relief while their appeal is considered. The ruling had required the company to obtain a license from the Indian Performing Right Society to use copyrighted music in caller tunes. The stay is in effect until June 24 or further notice.