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Business EconomyPosted at: Jul 16 2024 3:36PM


DoT issues Rs 11,340.7 cr demand notices to Airtel, Jio, VI for spectrum won in auction

New Delhi, Jul 16 (UNI) Nearly three weeks after the conclusion of auction, the Department of Telecom on Tuesday sent demand notices to telecom services providers – Airtel, Jio and Vodafone Idea, for payment of spectrum they had won totaling more than Rs 11,340.7 crore.
In a letter to Bharti Airtel, the DoT said that as per the final result of auction, you have been allowed to use spectrum as per your final bid in the said auction. The total value payable (excluding GST) is Rs 6,856.76 crore.
Similarly, the amount payable by Vodafone Idea is Rs 3,510.40 crore and of Reliance Jio is Rs 973.62 crore, according to demand notice for these operators.
The DoT has given two options to the companies for making the payment. First option is make full payment or part of upfront payment (which can be a multiple of complete years with a minimum of two years).
“You will have the option of availing moratorium for the corresponding number of years for which the upfront payment has been made, and the balance amount shall be payable in equal instalments over the remaining period, payable in advance at the beginning of each year, after the period of moratorium, if any, duly protecting the Net Present Value (NPV) of the bid amount at the applicable rate of interest,” the notice mentioned.
The annual instalments shall become due and payable on the Effective Date anniversary of each following year as per terms and conditions in the Notice Inviting Applications (NIA) document.
As per second option, the operators shall have to make payment in 20 equal annual instalments of the bid amount, duly protecting the NPV of the bid amount at the applicable rate of interest, in advance at the beginning of the year.
The GST, as applicable, is payable by the operators on the demands issued by the DoT.
The department has asked the operators to make the payment within 10 calendar days from the date of issuance of this demand notice.
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Tags: #DoT issues Rs 11#340.7 cr demand notices to Airtel# Jio# VI for spectrum won in auction
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