Tata Comm's Under-reporting Of Revenue Led To Loss Of Rs 645-crore Fee

Tuesday August 09, 2022.

Press Trust of India

Last Updated at August 10, 2022 00:47 IST

Photo: Bloomberg

Tata Communications under-reported gross revenue between 2006-07 to 2017-18 which led to a Rs 645 crore lower levy of licence fee during the period, the Comptroller and Auditor General of India (CAG) has said in a report. The CAG also said the amount needs to be recovered from Tata Communications (TCL).

“Audit scrutiny of Audited AGR Statements with reference to Profit & Loss Statements and Balance Sheets in respect of NLD, ILD and ISP-IT licenses of TCL for the period from 2006- 07 to 2017-18 revealed that there was an under-reporting of Gross Revenue (GR) by Rs 13,252.81 crore and consequent short levy of LF (licence fee) of Rs 950.25 crore,” it said on Monday.

According to the CAG report, the telecom department only levied Rs 305.25 crore as a LF on the firm.

The CAG said the estimated foregone revenue on account of delay in allocation of E and V band spectrum is “only an indicative figure and the expected actual revenue could be higher”.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, August 10 2022. 00:47 IST

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Tata Comm's Under-reporting Of Revenue Led To Loss Of Rs 645-crore Fee

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