NEW DELHI: The Indian government's budgetary estimates of Rs 1,330 billion in receipts from the communication services, including telcos in FY21 could be a major relief for incumbent telcos as the government has not included penalty, interest and interest on penalty in its calculation, Axis Capital<\/a> said in a note. 轴表示,估计政府预计Rs1,050 bn 5 g频谱拍卖包括相关谱。然而,在职者仍然参与问题给他们强调资产负债表。 新德里:印度政府的预算估计的Rs 1.33万亿通信服务收入,包括电信公司FY21可能是现任电信公司作为政府的主要救济不包括点球,利息和罚款利息的计算,轴的资本在一份报告中称。 NEW DELHI: The Indian government's budgetary estimates of Rs 1,330 billion in receipts from the communication services, including telcos in FY21 could be a major relief for incumbent telcos as the government has not included penalty, interest and interest on penalty in its calculation, Axis Capital<\/a> said in a note.
“Of Rs 590 billion expected in FY20, assuming Rs 210 billion in license\/SUC and Rs 210 billion spectrum related payment, the AGR<\/a> liability collection works out to Rs 170 billion (Voda-Idea’s Rs 100 billion, Bharti Airtel<\/a>’s Rs 87 billion) – the principal portion only,” Axis Capital said.
“We see the budget estimates to be positive for Vodafone-Idea, as it improves the business case for the company to remain a going concern,” it added.
The matter is sub-judice and the Supreme Court would hear the modification petition soon.
\n<\/p>Read also<\/h4>
![\"Bharti](\"\/\/www.iser-br.com\/Themes\/Release\/images\/responsive\/ettelecom-default.jpg\")
<\/a><\/figure>Bharti Infratel Q3 net profit falls vs Q2; telcos' AGR issue weighs on growth<\/a><\/h5><\/div>
<\/a><\/figure>Govt sees 125% jump in FY21 revenue mop-up from telecom, driven by AGR collections, spectrum sale<\/a><\/h5><\/div><\/div><\/div>\n\n\n\n
“We expect the matter to be transferred to DoT, which in turn will grant relief to incumbents,” Axis Capital said.
Government expects Rs 1,330 billion in receipts in FY21. Assuming a two-year moratorium (FY21\/FY22) on spectrum-related payment and 30% increase in license\/SUC related payments (due to tariff hike), Axis said that it estimates that government expects Rs1,050 bn from the spectrum auction including 5G<\/a> related spectrum. However, participation of the incumbents remains in question given their stressed balance sheets.
“Assuming Rs 210 billion from licensee\/SUC and Rs 210 billion from spectrum related charges, we estimate that the government expects payment of Rs 170 billion from AGR related dues. We think that this is related to only the principle portion of the dues,” it said.
The brokerage said that government may forego the penalty, interest and interest on penalty related to the AGR dues, as it has shown keenness to work towards the survival of Vodafone-Idea. This may be a major relief for the incumbents, who are under stress due to high debt levels.
“Also, relief on AGR related dues is expected as the government has proposed ‘Vivad Se Vishwas’ scheme. Under this scheme, a taxpayer would be required to pay only the amount of the disputed taxes and will get complete waiver of interest and penalty provided he pays by March 31, 2020. Those who avail this scheme after the date will have to pay some additional amount. The scheme will remain open till June 30, 2020,” Axis Capital said.
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政府预计只有AGR主要从电信公司支付;可以提供救济沃达丰的想法,Airtel:分析师吗
“FY20 Rs 5900亿年预期的假设Rs 2100亿年许可/往下和Rs 2100亿光谱相关付款,AGR收集工作责任1700亿卢比(Bharti Voda-Idea Rs 1000亿附近的旅馆的Rs 870亿)——的主要部分,“轴资本说。
问题是悬案和最高法院将很快听到修改申请。
“我们期望这件事被转移到点,进而将给予宽慰在职者,“轴资本表示。
政府预计1.33万亿卢比在FY21收据。假设一个为期两年的暂停(FY21 / FY22) spectrum-related付款和许可证/往下相关支付增加30%(由于关税上调),轴表示,估计政府预计从频谱拍卖包括Rs1,050 bn5克相关的光谱。然而,在职者仍然参与问题给他们强调资产负债表。
“假设Rs 2100亿从被许可方/往下和Rs 2100亿光谱相关的指控,我们估计,政府预计支付1700亿卢比的AGR相关会费。我们认为这只是相关的原理部分会费,”它说。
经纪公司表示,政府可能会放弃惩罚,AGR相关利息和罚款利息费,因为它表明锋利努力Vodafone-Idea的生存。来说,这可能是一个主要的救济,是谁在压力下由于高的债务水平。
”同时,救援AGR相关费预计随着政府提出了“Vivad Se Vishwas”计划。在这个方案下,纳税人只需要支付的金额有争议的税收和提供的利息和罚款将会完全放弃他支付3月31日,2020年。那些利用这个计划日期后需要支付一些额外的金额。该计划仍将开放到2020年6月30日,“轴资本说。
“Of Rs 590 billion expected in FY20, assuming Rs 210 billion in license\/SUC and Rs 210 billion spectrum related payment, the AGR<\/a> liability collection works out to Rs 170 billion (Voda-Idea’s Rs 100 billion, Bharti Airtel<\/a>’s Rs 87 billion) – the principal portion only,” Axis Capital said.
“We see the budget estimates to be positive for Vodafone-Idea, as it improves the business case for the company to remain a going concern,” it added.
The matter is sub-judice and the Supreme Court would hear the modification petition soon.
\n<\/p>Read also<\/h4>
<\/a><\/figure>Bharti Infratel Q3 net profit falls vs Q2; telcos' AGR issue weighs on growth<\/a><\/h5><\/div>
<\/a><\/figure>Govt sees 125% jump in FY21 revenue mop-up from telecom, driven by AGR collections, spectrum sale<\/a><\/h5><\/div><\/div><\/div>\n\n\n\n
“We expect the matter to be transferred to DoT, which in turn will grant relief to incumbents,” Axis Capital said.
Government expects Rs 1,330 billion in receipts in FY21. Assuming a two-year moratorium (FY21\/FY22) on spectrum-related payment and 30% increase in license\/SUC related payments (due to tariff hike), Axis said that it estimates that government expects Rs1,050 bn from the spectrum auction including 5G<\/a> related spectrum. However, participation of the incumbents remains in question given their stressed balance sheets.
“Assuming Rs 210 billion from licensee\/SUC and Rs 210 billion from spectrum related charges, we estimate that the government expects payment of Rs 170 billion from AGR related dues. We think that this is related to only the principle portion of the dues,” it said.
The brokerage said that government may forego the penalty, interest and interest on penalty related to the AGR dues, as it has shown keenness to work towards the survival of Vodafone-Idea. This may be a major relief for the incumbents, who are under stress due to high debt levels.
“Also, relief on AGR related dues is expected as the government has proposed ‘Vivad Se Vishwas’ scheme. Under this scheme, a taxpayer would be required to pay only the amount of the disputed taxes and will get complete waiver of interest and penalty provided he pays by March 31, 2020. Those who avail this scheme after the date will have to pay some additional amount. The scheme will remain open till June 30, 2020,” Axis Capital said.
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