With this, the company has made full payment in respect of spectrum purchased in the 2016 auction, and the dues now pertain to the 2014, 2015 and 2021 auctions.
Sources said Reliance Jio has paid around Rs 10,700 crore to the DoT for the spectrum dues it had acquired in the 2016 auction.
Sources said the payment was made by Jio last week.
With this, the company has made full payment in respect of spectrum purchased in the 2016 auction, and the dues now pertain to the 2014, 2015 and 2021 auctions.
Sources said last week Jio paid around ₹10,700 crore to the Department of Telecommunications (DoT), paying its remaining dues for spectrum bought in the 2016 auction.
E-mails sent to Reliance Jio on the matter did not elicit any response.
The government recently approved a blockbuster relief package for the telecom sector which includes a four-year break for companies from paying statutory dues, permission to share scarce airwaves, change in the definition of revenue on which levy is paid. and includes 100% foreign investment. automatic route.
It also aims to provide relief to companies like Vodafone Idea, which have to pay thousands of crores in unorganized past statutory dues, including waiving of spectrum usage charges (SUC) for airwaves received in future spectrum auctions.
The government has given an option to telecom companies to defer payment of spectrum auction installments for up to four years with immediate effect, except the installments due for spectrum auction 2021.
This option is applicable from FY 2022-23 to FY 2025-26.
These deferred amounts will be distributed equally among the remaining installments to be paid, without any increase in the existing time period specified for making installment payments.
However, fixed interest will be charged in the respective year of auction of spectrum so as to protect the Net Present Value (NPV) of the amount payable.
Also, the government has given an option to the telecom companies to pay the interest amount arising on account of the said moratorium of payment by way of equity.
The Government will also have the option to convert the deferred payment dues into equity at the end of the moratorium/moratorium period.
The DoT recently wrote to telcos, including Bharti Airtel, Vodafone Idea and Reliance Jio, asking them to be informed by October 29 (Friday) whether they would opt for the four-year moratorium.
It has given 90 days to the operators to indicate whether they wish to opt for converting the interest amount into equity relating to the moratorium period.
As of now, telecom operators Bharti Airtel and Vodafone Idea have said that they will opt for a moratorium of four years on payment of dues. The moratorium is expected to free up cash flow of thousands of crores for telcos.
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