AG is of the view that there is no point in dragging the matter further when it has already been "struck down" by one international forum, and also by the top Indian court.
The money will be used to build capacity.
The decision is likely to bring in at least Rs 5 lakh crore of fresh investments into the sector over five years by improving connectivity and competition
The company says the reminder does not include a deadline for payment.
India is believed to have challenged in a court in The Hague an arbitration tribunal verdict that overturned its demand for Rs 10,247 crore in back taxes from Cairn Energy Plc -- the second time in three months that it has refused to accept an international award against retrospective tax.
Zain, which operates across West Asia and North Africa, provides mobile services to over 41.4 million customers and has commercial presence in eight countries.
The police had filed charges in December against Bharti Airtel and Vodafone's India unit.
The company, part of the UK-based Vodafone Group, had posted an adjusted operating profit of GBP 60 million (about Rs 503 crore) in the year-ago period, it said.
Piramal owns an 11 per cent stake in Vodafone India.
Delaying GAAR is seen as a move partly designed to help solve Vodafone dispute.
British telecom giant Vodafone Group on Tuesday posted 14 per cent growth in operating earnings from India's business to 1.12 billion pounds (about Rs 9,749 crore) for 2011-12 helped by rising customer base and strong growth in voice-call minutes.
The first notice in the transaction relating to the sale of 67 per cent stake of Hutchison Essar Ltd was issued on March 15, 2007, under section 133(6) of the Income Tax Act.
Finance Minister P Chidambaram has asked UK-based Vodafone Group, which is facing a tax liability of over Rs 11,200 crore in India, to give its view on the long-pending matter in writing, a senior official said.
The world's largest mobile operator by revenue has begun the year on a bold note, backing the initial public offer plans of its Indian unit and sources say the ball has already been set rolling.
The foreign investment regulator cleared a decision on Vodafone Group Plc's $1.6 billion plan to take full ownership of its local unit.
India offers good long-term investment opportunities.
Vodafone Group Plc won the Indian cabinet's approval for its $1.6 billion deal to buy out minority partners in its unit in the country, Information and Broadcasting Minister Manish Tewari said on Thursday.
Maintaining that no tax liability arises from its $11 billion buyout deal with Hutchison in 2007, UK-based telecom major Vodafone today said it would continue to "vigorously" pursue the case in the Indian court.
The 64-year-old German, who has spent nearly four decades at Philips and around 10 years in the top position, will retire from the company on March 31 and will also be appointed as non-executive director at Vodafone on April 1.
Five months before the put option window closes, JP Morgan has come out with a report stating that Essar's stake in Vodafone Essar is around $2 billion, which is far less than what the shareholder agreement between the two companies in 2007 envisaged.
The Bombay High Court had last week dismissed Vodafone International's petition challenging the Indian tax authorities demand of Rs 12,000 crore (Rs 120 billion) in tax over the Hutchison deal.
The Ruias of the Essar Group will now be getting around $750 million (about Rs 3,493 crore) more from their telecom joint venture partner, Vodafone Group, over and above the fair market price if they exercise the "put" option for their 33.02 per cent stake.
There is considerable speculation as to whether this award would have any bearing on another Vodafone-type case, namely, the ongoing tax-related arbitration proceedings with Cairn Energy.
The company has made payment in compliance with Telecom Department's instructions for self assessment, Mittal said, adding that the Supreme Court had not mentioned specific amounts.
Vodafone Group Plc Chief Executive Vittorio Colao today said the company could list its Indian arm and was open to acquisitions when opportunities are available in the country. The head of the world's largest mobile company in terms of revenues suggested changes in the regulatory regime for mergers and acquisitions.
While UK's Vodafone Group fights its tax liability in courts, British firm Cairn Energy Plc on Wednesday said it will pay all taxes due, both in India and the United Kingdom, on the $8.48 billion sale of a majority stake in its Indian arm to Vedanta Resources.
Vodafone Group, the world's largest mobile operator by sales, is set to slash up to 500 jobs in the UK, says a media report.
UK-based Vodafone Group has ruled out selling its around 5 per cent stake in the holding company of Bharti Airtel in the near future as there is no buyer.
The country's second largest cellular services provider, Vodafone Essar, on Friday announced reduction in international roaming rates for its postpaid customers traveling to South Africa during the IPL Twenty20 cricket tournament beginning on Saturday.
The Indian mobile market has been witnessing a rate war with the entry of new players
The price offered is about a quarter of the value set by the govt in an auction that was scheduled for March 2013 but never took place.
"If we are not getting anything then I think it is end of story for Vodafone Idea," Kumar Mangalam Birla said at the HT Leadership Summit when asked about the future of Vodafone Idea in absence of a government relief on payment of Rs 53,038 crore dues.
The government may be waiting for the outcome of an arbitration initiated against its levy of Rs 10,247 crore retrospective tax on UK's Cairn Energy Plc before deciding on appealing against losing a tax case against Vodafone Group, sources said. An international arbitral tribunal is expected to give a decree within next few days on Cairn Energy Plc's challenge to the Indian government seeking Rs 10,247 crore in retrospective taxes. If the arbitration award in the Cairn cases goes against India, the government has to pay the British firm over Rs 7,600 crore to reverse the dividend and tax refund it had ceased and shares it sold to recover part of the tax demand.
"We always prefer long-term regulatory policies as we have to plan our businesses for long-term," Arun Sarin, the outgoing CEO of UK-based Vodafone Group, one of the world's largest mobile operators, said here.
Vodafone Group, the world's biggest mobile phone group by revenue, is to end its sponsorship of the English cricket team following a strategic review of its sponsorship portfolio. Vodafone and the England and Wales Cricket Board (ECB) said in a statement that the current four-year sponsorship agreement would conclude at the end of the winter tour of South Africa in January 2010.
Disgraced former Australia captain Steve Smith has tied up with the local arm of Britain's Vodafone Group in an advertising campaign that leverages the nation's ball-tampering shame for marketing purposes.
Spectrum auction ends, brings Rs 1.09 tln to govt kitty.
India's largest telecom operator in terms of subscriber numbers has been struggling to raise its share of subscribers in the market for fourth-generation technology services.
"As someone who was born and raised in India, I recognise the urgent need for our youth to be empowered from a knowledge perspective. We believe the Foundation will become an effective catalyst in this regard, Vodafone Chief Executive Officer Arun Sarin said.
Vodafone recently bought the 67 per cent stake held by Hutchison. The remaining equity is held by the Ruias.
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