CSR

ITC under GST on Corporate Social Responsibility

Goods and Services Tax - Some Important Definitions: Goods means every kind of movable property other than money and securities but includes actionable claim, growing crops, grass and things attached to or forming part of the land which are agreed to be severed before supply or under a contract of supply. [Sec. 2(52) of CGST Act] Services means anything other [&h...

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Section 135 Corporate Social Responsibility (CSR)

Goods and Services Tax - Article explains about Applicability of Corporate Social Responsibility (CSR) provisions, Constitution of Corporate Social Responsibility Committee, Amount Spend on Corporate Social Responsibility,  Framing Corporate Social Responsibility Policy, Disclosure of Corporate Social Responsibility, How to Spend Amount on Corporate Social Respo...

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Sec-135 Corporate Social Responsibility

Goods and Services Tax - Applicability of Corporate Social Responsibility    Every company having net worth of rupees five hundred crore or more or turnover of rupees one thousand crore or more or a net profit of rupees five crore or more during the immediately preceding financial year shall constitute a Corporate Social Responsibility Committee of the Board c...

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GST blocked Corporate Social Responsibility (CSR)…?

Goods and Services Tax - As GST was IT driven indirect tax system, it thrown many challenges for IT professionals and policy makers also. It has affected almost every business transaction may be supply of goods, services, purchases, sponsorship, donations, charity and even non-business transactions to the extent. One of such transactions is Corporate Social Respo...

Read More

How Modi Tighten disclosure norms for CSR under Companies Law

Goods and Services Tax - How Modi Tighten disclosure norms for Corporate Social Responsibility (CSR Policy) spending to its new India under Companies (Amendment Act),2019 A high-level panel on CSR is likely to propose increased disclosures to bring transparency in spending on these activities. India Inc may soon have to make higher disclosures on their corporate ...

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Invitation of Nominations for National CSR Awards 2020

Goods and Services Tax - Ministry of Corporate Affairs, Government of India has instituted National Corporate Social Responsibility (CSR) Awards to recognize companies that have made a positive impact on the society through their innovative & sustainable CSR initiatives....

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Sanctioned for prosecution given to 366 cases in violation of CSR norms

Goods and Services Tax - Whenever any violation of Corporate Social Responsibility (CSR) provisions is reported, action against such non-compliant Companies are initiated as per provisions of Companies Act, 2013 after due examination of records. So far, sanction for prosecution has been accorded in 366 cases. All CSR related offences are compoundable. So far 118 ...

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CSR is a true manifestation of Bapu’s Trusteeship Philosophy: President of India

Goods and Services Tax - CSR is a true manifestation of Bapu’s Trusteeship Philosophy: President of India. President of India Confers First National Corporate Social Responsibility (CSR) Awards for outstanding contributions in the area of CSR. Companies indulged in CSR activities are wealth creators, says Finance Minister...

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President to Present National CSR Awards to Select Companies

Goods and Services Tax - President of India, Shri Ram Nath Kovind, will present the National Corporate Social Responsibility Awards (NCSRA) to select companies for their outstanding contribution in area of Corporate Social Responsibility (CSR) on Tuesday, 29th October, 2019 in New Delhi. ...

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Consider introduction of CSR Compliance Certificate by CS in Practice: ICSI

Goods and Services Tax - We request you to kindly consider introduction of CSR Compliance Certificate by a Company Secretary in Practice, independent professional and reporting thereof in a dedicated format in form of CSR Compliance Certificate....

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GST liability with respect to goods provided free of cost as CSR

In re M/s. Polycab Wires Pvt. Ltd. (GST AAR Kerala) - Determination of GST liability with respect to goods provided free of cost by the Distributors of M/s. Polycab Wires Private Limited to KSEB for reinstating connectivity in flood ridden areas; and admissibility of input tax credit in relation to such goods. In order to operationalize the commitment ...

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Registration U/s. 12AA cannot be denied to trust established to comply CSR obligations

Escorts Skill Development Vs CIT (Exemptions) (ITAT Delhi) - Escorts Skill Development Vs CIT (Exemptions) (ITAT Delhi) Merely because of the fact that the applicant company has been established to comply with the CSR obligations, the registration u/s 12AA of the Act cannot be denied, particularly when CSR activities are also charitable activities as defined ...

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CSR Expenses prior to 1st April 2015 Deductible from Total Income: ITAT

Bengal NRI Complex Ltd. Vs DCIT (ITAT Kolkata) - Bengal NRI Complex Ltd. Vs DCIT (ITAT Kolkata) Since the ‘CSR’ expenses are mandatory for companies incorporated as per the Companies Act, 2013 and the expenditure have been incurred by the assessee as envisaged under the Companies Act, 2013. So we are of the opinion that it has to be allowed an...

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Registration U/s. 12AA cannot be Rejected on the ground that trust formed to carry out CSR activities

Nanak Chand Jain Charitable Trust Vs CIT (ITAT Delhi) - These appeals are filed by the assessee against the orders dated 27/9/20 16 u/s 12AA of the Income Tax Act, 1961 & order dated 28/9/20 16 u/s 80 G(5) (vi) of the Income Tax Act, 1961 passed by the Commissioner of Income Tax (Exemptions), Chandigarh....

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S.12AA Registration cannot be denied to Trust created to carry out CSR Activities

Nanak Chand Jain Charitable Trust Vs. CIT(E) (ITAT Delhi) - Just because the trust has been formed for complying CSR requirements it cannot per se be the reasons for denying registration under Section 12AA of the Income Tax Act. ...

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MCA amends CSR Schedule VII of Companies Act, 2013

Notification No. G.S.R. 776(E). - (11/10/2019) - Central Government hereby makes further amendments to Schedule VII of the Companies Act, 2013 which relates to Activities which may be included by companies in their Corporate Social Responsibility Policies....

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MCA amends Schedule VII of Companies Act, 2013

Notification No. G.S.R. 390(E). - (30/05/2019) - Central Government hereby makes the following further amendments to Schedule VII of the said Act, namely:- In the said Schedule VII, after item (xi) and the entries relating thereto, the following item and entries shall be inserted, namely:-...

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Extension of Tenure of High Level Committee on CSR-2018

General Circular No. 02/2019 - (08/03/2019) - The High Level Committee on Corporate Social Responsibility, 2018 was constituted under the Chairmanship of Secretary, Ministry of Corporate Affairs vide OM of even no. dated 22.11.2018 to review the existing framework and formulate a coherent policy on Corporate Social Responsibility....

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Re-Constitution and Re-naming of Advisory Group of NFCSR

Order No. 11/02/2018-CSR - (07/01/2019) - Re-Constitution and Re-naming of Advisory Group of National Foundation for Corporate Social Responsibility (NFCSR) as Governing Council, NFCSR...

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Re-Constitution of Steering Committee of National Foundation for CSR

Order No. 11/ 02/ 2018-CSR - (07/01/2019) - Pursuant to the approval of Hon'ble Minister of Corporate Affairs, a restructured Steering Committee of National Foundation for Corporate Social Responsibility (NFCSR) is hereby constituted to prepare a roadmap, oversee the functioning and steer the activities of NFCSR for providing policy inputs an...

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Recent Posts in "CSR"

ITC under GST on Corporate Social Responsibility

Some Important Definitions: Goods means every kind of movable property other than money and securities but includes actionable claim, growing crops, grass and things attached to or forming part of the land which are agreed to be severed before supply or under a contract of supply. [Sec. 2(52) of CGST Act] Services means anything other [&h...

Read More
Posted Under: Company Law |

Section 135 Corporate Social Responsibility (CSR)

Article explains about Applicability of Corporate Social Responsibility (CSR) provisions, Constitution of Corporate Social Responsibility Committee, Amount Spend on Corporate Social Responsibility,  Framing Corporate Social Responsibility Policy, Disclosure of Corporate Social Responsibility, How to Spend Amount on Corporate Social Respo...

Read More
Posted Under: Company Law |

Sec-135 Corporate Social Responsibility

Applicability of Corporate Social Responsibility    Every company having net worth of rupees five hundred crore or more or turnover of rupees one thousand crore or more or a net profit of rupees five crore or more during the immediately preceding financial year shall constitute a Corporate Social Responsibility Committee of the Board c...

Read More
Posted Under: Company Law |

Invitation of Nominations for National CSR Awards 2020

Ministry of Corporate Affairs, Government of India has instituted National Corporate Social Responsibility (CSR) Awards to recognize companies that have made a positive impact on the society through their innovative & sustainable CSR initiatives....

Read More
Posted Under: Company Law |

GST blocked Corporate Social Responsibility (CSR)…?

As GST was IT driven indirect tax system, it thrown many challenges for IT professionals and policy makers also. It has affected almost every business transaction may be supply of goods, services, purchases, sponsorship, donations, charity and even non-business transactions to the extent. One of such transactions is Corporate Social Respo...

Read More
Posted Under: Company Law |

Sanctioned for prosecution given to 366 cases in violation of CSR norms

Whenever any violation of Corporate Social Responsibility (CSR) provisions is reported, action against such non-compliant Companies are initiated as per provisions of Companies Act, 2013 after due examination of records. So far, sanction for prosecution has been accorded in 366 cases. All CSR related offences are compoundable. So far 118 ...

Read More
Posted Under: Company Law |

How Modi Tighten disclosure norms for CSR under Companies Law

How Modi Tighten disclosure norms for Corporate Social Responsibility (CSR Policy) spending to its new India under Companies (Amendment Act),2019 A high-level panel on CSR is likely to propose increased disclosures to bring transparency in spending on these activities. India Inc may soon have to make higher disclosures on their corporate ...

Read More
Posted Under: Company Law |

Corporate Social Responsibility – Is it just a Responsibility??

Section 135 of the Act is applicable on every company having net worth of rupees five hundred crore or more, or turnover of rupees one thousand crore or more, or a net profit of rupees five crore or more, during immediately preceding financial year....

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Posted Under: Company Law |

CSR is a true manifestation of Bapu’s Trusteeship Philosophy: President of India

CSR is a true manifestation of Bapu’s Trusteeship Philosophy: President of India. President of India Confers First National Corporate Social Responsibility (CSR) Awards for outstanding contributions in the area of CSR. Companies indulged in CSR activities are wealth creators, says Finance Minister...

Read More
Posted Under: Company Law |

President to Present National CSR Awards to Select Companies

President of India, Shri Ram Nath Kovind, will present the National Corporate Social Responsibility Awards (NCSRA) to select companies for their outstanding contribution in area of Corporate Social Responsibility (CSR) on Tuesday, 29th October, 2019 in New Delhi. ...

Read More
Posted Under: Company Law |

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