Telecom operator Reliance Communications is planning to roll out a 3G ICR-like roaming agreement to continue 2G service in Bihar, West Bengal and Assam after its right to use 2G spectrum expires in December.
Within days of getting a favourable verdict in the Rs 8,500 crore transfer pricing case from the Bombay High Court, Vodafone Group CEO Vittorio Colao will call on Finance Minister Arun Jaitley this week.
The Bombay High Court set aside an order of Income Tax Appellate Tribunal (ITAT) which had ruled that the I-T department had powers to raise tax demand on Vodafone in a Rs 8,500 crore transfer pricing case.
If FM Arun Jaitley succeeds in cleaning up the retrospective tax mess, it will be a big boost for PM Narendra Modi-led dispensation, reeling under Parliamentary setbacks on the Land Acquisition and GST Bills.
Spectrum trading is expected to reduce the number of telecom operators leading to a higher market share as well as curb aggressive bids in the upcoming auction of mobile airwaves, Fitch and Ind-Ra said.
The revised bilateral investment treaty seeks to exclude taxation steps, commercial contracts between domestic and foreign firms from arbitration but is likely to have many changes to make it more investor-friendly.