SME Times is powered by   
Search News
Just in:   • India's industrial production registers 1.2 per cent growth in May  • Govt committed to building safe and smart energy future: Minister  • Sanchez defends Spain's defence budget in response to Trump's threats  • Iran says no agreement made to resume US talks  • India’s engineering goods exports to US rose 4.6 pc in May despite tariff turmoil 
Last updated: 29 Jun, 2020  

Telecom.9.Thmb.jpg COAI seeks refund of unutilised ITC, levy cuts amid Covid stress

Telecom.9.jpg
   Top Stories
» India's industrial production registers 1.2 per cent growth in May
» Govt committed to building safe and smart energy future: Minister
» QCOs benefit MSMEs by enhancing product quality, consumer satisfaction: Piyush Goyal
» Stock market opens higher as Trump indicates ‘great’ trade deal with India
» Make GIFT IFSC more competitive to attract foreign investments: FM Sitharaman
SME Times News Bureau | 29 Jun, 2020
Telecom industry body COAI has again written to the Finance Minister seeking financial relief with refund of unutillised input tax credit (ITC) and rationalisation of regulatory levies as the industry goes through a tough time amid the Covid-19 pandemic.

This is the second time the Cellular Operators Association of India (COAI) has written to the minister seeking relief measures for the industry in the past three months. In March it had written to Finance Minister Nirmala Sitharaman seeking the relaxations.

It has requested immediate refund of the unutilised input tax credit. COAI also said that if not the refund, the government should provide soft loan at MCLR rate to the companies, using the GST input credit as collateral.

Seeking reduction in regulatory levies, it said: "The effective rate of the SUC should be reduced by 3 per cent for all the TSPs."

Licence fee contribution should be immediately brought down from 8 per cent to 3 per cent, said the letter signed by COAI Director General, Rajan Mathews.

The industry body has also sought exemption of the levy of GST on license fees, spectrum usage charges and payment of spectrum acquired in auctions.

"Exempt service tax on amount of LF/SUC payable by Telecom Operators in compliance with Supreme Court order," it added.
 
Print the Page
Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
84.35
82.60
UK Pound
106.35
102.90
Euro
92.50
89.35
Japanese Yen 55.05 53.40
As on 12 Oct, 2024
  Daily Poll
Do you think Indian businesses will be negatively affected by Trump's America First Policy?
 Yes
 No
 Can't Say
  Commented Stories
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter