Telco’s Seek Refund of Rs. 35k Crores Input Tax Credit

Telecom operators want the government to refund input tax credit (ITC) of around Rs. 35,00 crores, reduce levies and waive GST on Licence fees and spectrum usage in the 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 unutilized ITC of Rs. 35,000 crores of the industry, which cannot market dynamics have led to the accumulation of massive ITC. S-ET

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