TelecomOperators - Business Outrank

Telecom Operators to Pay GST on Spectrum Payments, CBIC Clarifies Telecom operators will have to pay goods and services tax (GST) on range, based on their payment schedule, the Central Board of Indirect Taxes and Customs (CBIC) has clarified. In cases where Telecom operators make the full upfront installment for range allotment, GST would be payable when the installment of the said forthright sum is made or is due, whichever is prior. However, in cases where Telecom operators opt for conceded payments in indicated installments, GST would be payable as and when the payments are due or made, whichever is prior. Also Read: Crumbling Infrastructure: Fourth Bridge Collapse in 10 Days Rocks Bihar This clarification by the CBIC follows the GST Council's choice on June 22 to give direction on the time of supply for the allocation of spectrum to Telecom operatorss, in cases where the payment of permit expense and range utilization charges is to be made in installments. A GST of 18% is to be required on these exchanges. The CBIC has moreover expressed that the same treatment with respect to the time of supply may apply in other cases where the government apportions any characteristic assets to effective bidders or buyers. The latest round of range auctions, which concluded on June 26 after seven rounds, included the expiring range in 2024 and the unsold range from the past auction held in 2022. Ankit Joshi, Relate Accomplice at N.A. Shah Partners, clarified that in the case of range assignment administrations, Telecom operators require to pay GST beneath the reverse-charge mechanism. He said that the CBIC has presently clarified that the time of supply for such exchanges will be prior than the date of installments or when it is due as per the recurrence task letter of the Office of Telecommunications (Speck). This clarification will give much-needed direction to Telecom operators on the GST suggestions of range assignment, especially in cases where conceded installments are included. The CBIC's choice to extend the same treatment to the assignment of other common assets by the government is too essential, as it guarantees consistency in the application of GST rules over different sectors.

What's Hot

On Easy Financing, Consumer Durable Will Grow 11-12% This Fiscal Year

Rebrands As Tata CLiQ Fashion, Focuses On Fashion And Lifestyle

Tuhin Kanta Pandey confident of meeting CPSE 4.9% fiscal deficit in FY25

The Connection Between Diet and Organic Skincare – Foods for Healthy Skin

The Rise of Organic Skincare – Embracing Nature’s Love for Your Skin!

Living with High-Functioning Anxiety – Myths and Realities

Hidden Phobias – Understanding and Coping with Subconscious Fears

According to Nareshi Meena, Amitabh Bachchan will pay for Nareshi’s treatment of a brain tumour

Prepare for the Epic Conclusion: Demon Slayer’s Infinity Castle Arc Comes to the Big Screen

Nusrat Fateh Ali Khan’s Lost Album ‘Chain of Light’ to Debut After 27 Years

Kartik Aaryan Shines in “Satyanaas” Song from Chandu Champion

Indian government approves Singapore Airlines bid to merge Vistara and Air India

Independence Day and Raksha Bandhan Fuel Airbnb Travel Rush

Indian government approves Singapore Airlines bid to merge Vistara and Air India

Independence Day and Raksha Bandhan Fuel Airbnb Travel Rush

Bangladesh’s Instability Threatens Reactive Dyes Industry for Next Year

Crafting Dream Spaces: Interior Designers Company in Bangalore

Browsing: TelecomOperators

Telecom Operators Shift into GST on Spectrum Allocation

On Easy Financing, Consumer Durable Will Grow 11-12% This Fiscal Year

Rebrands As Tata CLiQ Fashion, Focuses On Fashion And Lifestyle

Tuhin Kanta Pandey confident of meeting CPSE 4.9% fiscal deficit in FY25

India’s MSME Jobs Have Reached 23 Crore

Our Picks

On Easy Financing, Consumer Durable Will Grow 11-12% This Fiscal Year

Rebrands As Tata CLiQ Fashion, Focuses On Fashion And Lifestyle

Tuhin Kanta Pandey confident of meeting CPSE 4.9% fiscal deficit in FY25

Most Popular

On Easy Financing, Consumer Durable Will Grow 11-12% This Fiscal Year

Harvesting Hope: Rahul Gandhi’s Empathy in Action with Farmers before 2024 Elections

Is Modi Afraid? Congress Leader Accuses PM of Targeting Rahul Gandhi

Subscribe to Updates

What's Hot

Browsing: TelecomOperators