Vodafone Idea to pay balance license fee by April 15

Sarkaritel
By Sarkaritel April 13, 2021 06:56

Vodafone Idea to pay balance license fee by April 15


Mumbai, April 13  Vodafone Idea Ltd will pay the remaining amount of license fee by April 15 along with the interest.

Days after the Department of Telecommunications issued a show cause notice to the company over non-payment of license fee in seven circles, Vodafone Idea said, in a regulatory filing, that it will send a “suitable clarification” to DoT on the same.

It said that payment of license fee is a regular quarterly exercise based on self-calculation of revenue for each quarter. Generally, the payment is made on 15th day of the month following the quarter end, but in the fourth quarter, an estimated payment is required by March 25.

“However, the license also allows the payment to be made with interest on 15th April. To the extent of any payment not made on March 25, will be paid on April 15 with interest,” it said.

DoT had last week issued a show-cause notice to the telco over non-payment of license fee for the fourth quarter of FY21, with regard to several circles and had asked the company to show cause as to why action should not be taken against the company under relevant clauses of the license agreement.

Sarkaritel
By Sarkaritel April 13, 2021 06:56