Central Govt Allows Airtel and Vodafone to Defer Payments by Two Years
By Hindustan Times 21-Nov-2019
- On Wednesday, the central govt gave Bharti Airtel and Vodafone-Idea Ltd a relief by allowing them to defer the payments for spectrum purchases by 2022.
- This decision came after Oct 24th ruling which directed the telecom firms to pay at least Rs 92,000 crore in past dues to the govt within 3 months.
- The government said, "Dept of Telecommunication will give an option to Telecom Service Providers to defer the payment due for 2020-2021 and 2021-2022 for one or both years.
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- It further said that these deferred payments will be spread equally in the remaining installment to be paid by TSPs.
- Let us tell you that Vodafone and Airtel suffered a huge loss in September because of SC rulings that upheld the government's broader definition of revenue.
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