The Vodafone Idea chief had also expressed concern over Rs 30,000 crore that is locked up on account of GST payment under ‘reverse charge mechanism’. A letter to this effect has been written by Vodafone Idea Ltd to the Department of Telecom (DoT), said the source who did not wish to be named. When contacted, Vodafone Idea Ltd in an e-mail said, “For 5G to work, a robust 4G network is a must. Over the past few years, India’s telecom market had become cut-throat where nearly a dozen players jostled for market share, pummelling the call rates to amongst the lowest in the world. The Vodafone Idea chief had also expressed concern over Rs 30,000 crore that is locked up on account of GST payment under ‘reverse charge mechanism’.

Source: Mint December 16, 2018 10:52 UTC