Bharti Airtel has made an additional payment of Rs 80.04 billion towards adjusted gross revenue (AGR) dues to the Department of Telecommunications (DoT).
The payment is in addition to Rs 100 billion the company paid on February 17, 2020, taking the total amount paid by the operator to Rs 180.04 billion.
As per Airtel, the amount of Rs 80.04 billion includes Rs 30.04 billion towards a full and final settlement on AGR dues based on self-assessment, and a deposit of buffer Rs 50 billion to cover DoT’s reconciliation differences.
Meanwhile, the company stated that it has completed its self-assessment exercise. To this end, Airtel’s dues amount to Rs 130.04 billion which it has already paid off.
The telco has calculated the liabilities on self-assessment basis from the financial year 2006-07 up to December 31, 2019, and the payment includes interest up to February 29, 2020.
Furthermore, Airtel in its regulatory filing has stated that based on the aforesaid payment the telco has now complied with AGR judgement and the directions in the order of the Supreme Court dated October 24, 2019.
The payment included liabilities on Bharti Airtel, Bharti Hexacom and Telenor India.
Picture credits: Bloomberg