2 corporate social responsibility

corporate social responsibility - Page 2

Availability of ITC on CSR Expenses

That it is eligible to claim ITC on the CSR expenditure spent by it since it is spent in accordance with the provisions laid down by Companies Act, 2013. CSR expenses incurred by the applicant have been mandated under the Companies Act, 2013....

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ITC eligible on CSR expenditure spent by company

In re Bambino Pasta Food Industries Private Limited (GST AAR Telangana)

The expenditure made towards corporate responsibility under section 135 of the Companies Act, 2013, is an expenditure made in the furtherance of the business. Hence the tax paid on purchases made to meet the obligations under corporate social responsibility will be eligible for input tax credit under CGST and SGST Acts....

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Companies (CSR Policy) Amendment Rules, 2022 – Analysis

Companies (CSR Policy) Amendment Rules, 2022 came into force to amend few sub-rules of Companies (Corporate Social Responsibility Policy) Rules, 2014. They shall come into force on the date of their publication in Official Gazette that is 20th September, 2022. Majorly, it covers five amendments: 1. If the company has any amount in Unspen...

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All about Corporate Social Responsibility (CSR) under Company Law

Let’s begin with the meaning of Corporate Social Responsibility (CSR). When the companies get bigger in size, apart from the economic responsibility of earning profits, there are some social responsibilities which the companies shall also consider in order to fulfil the expectations of society....

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CSR Compliances as per New Rules w.e.f. 20th September 2022

It has made mandatory for the Company to ensure the Constitution of CSR Committee and compliance of sub-section (2) to (6) of Section 135 to ensure that the Company complies with CSR initiative w.r.t to the unspent Amount....

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MCA imposes Penalty for Delay in Transferring unspent CSR Fund

Notification No. ROC/D/Adj Order/Section 135/Comviva/5702-5710 27/09/2022

GOVERNMENT OF INDIA MINISTRY OF CORPORATE AFFAIRS, OFFICE OF REGISTRAR OF COMPANIES, NCT OF DELHI & HARYANA 4TH FLOOR, IFCI TOWER, 61, NEHRU PLACE, NEW DELHI -110019 No. ROC/D/Adj Order/Section 135/Comviva/5702-5710 Dated: 27.09.2022 Order for Penalty for Violation of Section 135 of the Companies Act, 2013 IN THE MATTER OF COMVIVA TEC...

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Companies (Corporate Social Responsibility Policy) Amendment Rules, 2022

Corporate social Responsibility is a sense of understanding of the company towards the environment and the society, broadly refers to the work and activities undertaken by corporate towards issues related to social causes and development, environment, disaster relief and community support. As commonly misunderstood, the CSR is not charity...

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Companies (CSR Policy) Amendment Rules, 2022 – Detailed Analysis

The Corporate Social Responsibility (CSR) provisions are governed under Section 135 of the Companies act, 2013 read with the Companies (Corporate Social Responsibility Policy) Rules, 2014 (Rules) and Schedule VII thereto. The Rules, which were last amended by the Ministry of Corporate Affairs (“MCA”) in January, 2021, have been amend...

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Companies (CSR Policy) Amendment Rules, 2022 WEF 20.09.2022

Companies (Corporate Social Responsibility Policy) Amendment Rules, 2022 applicable with effect from 20th September 2022 Applicability of CSR provisions under the Companies Act 2013 Section 135 of Companies Act 2013, read with Companies (Corporate Social Responsibility) Rules, 2014, and schedule VII prescribes mandatory provisions for Com...

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National CSR Exchange Portal – Registration Requirement and Benefit

As we all know, current Central Government is focusing on Digitalisation of India. In a recent move, they have launched National CSR Exchange portal to maintain a database of CSR Spending companies and NGOs that are eligible to receive CSR Funding i.e implementing agency. It is a platform where both CSR Spending company and registered [&h...

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