Airtel Pays Another Rs. 8,004 Crore To DoT As Adjusted Gross Revenue (AGR)

Publish On: 29 Feb, 2020 04:25 PM | Updated   |   Madhurima  

NEW DELHI: Another Rs. 8,004 Crore was paid by Airtel to Department of Telecom (DoT) as a part of the second instalment for statutory dues by the company.

Till now, a transaction of Rs, 18,004 crores has been made to the government by the Indian global telecommunication service of Airtel.

The company owes the government a total of Rs. 35,500 crore in dues, out of which 18,004 has already been cleared. 

Also read: Airtel Pays Rs. 10,000 Crore To Govt. As Adjusted Gross Revenue (AGR) Dues

The current deposit which was made by Airtel was for adjusted gross revenue (AGR). Based on its self-assessment, a payment of Rs, 3,004 was expected. Another Rs. 5000 was paid by the company was due to the "ad-hoc payment", this amount will we refundable after DoT adjusts its own estimates from telcos.

During a regulatory filing, telco said, "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 crore paid on February 17, 2020, on behalf of the Bharti Group of Companies (Bharti Airtel, Bharti Hexacom and Telenor India)"

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It further added, "In addition to the aforesaid amounts paid on basis of our self-assessment, we have also deposited an additional amount of Rs 5,000 crore, as an ad-hoc payment,"(subject to subsequent refund/adjustment) to cover differences, if any, arising from the reconciliation exercise with the DoT."