Budget Expectations: Telcos seek Rs 35,000 crore input tax credit refund, GST waiver on licence fee
Zee News
Telecom operators want the government to refund input tax credit of around Rs 35,000 crore, reduce levies and waive GST on licence fees and spectrum usage in the upcoming Budget.
New Delhi: Telecom operators want the government to refund input tax credit (ITC) of around Rs 35,000 crore, reduce levies and waive GST on licence fees and spectrum usage in the upcoming Budget.
According to pre-Budget recommendations of telecom industry body COAI, whose members include Vodafone Idea, Bharti Airtel and Reliance Jio, the telecom sector wants the government to suspend universal service obligation fund (USOF), which financially supports rollout of telecom services in the rural area, to reduce burden on the service providers.
"Refund unutilised ITC of Rs 35,000 crore of the industry, which cannot be utilized in the near future. The current market dynamics have led to the accumulation of massive ITC.
