CSR

1.2 Lakh Crore Rupees Spent On CSR, Only Five Percent Came in PM Cares: Government

1.2 Lakh Crore Rupees Spent On CSR, Only Five Percent Came in PM Cares: Government

Corporate Affairs Minister Rao Inderjit Singh while sharing the details in reply to supplementary questions during Question Hour in Rajya Sabha said that in the last seven years, around Rs 1.2 lakh crore has been spent by various companies under Corporate Social Responsibility Fund (CSR) and Only four to five percent of them have been …

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CFO Certificate under CSR Rules _ Draft Format

CFO Certificate under CSR Rules _ Draft Format Date: ………. The Board of Director, ……………………………… …………………………….. Sub: Certificate under Rule 4 of CSR Rules, 2014 Dear Sirs, This is to certify that funds of Rs…Lakhs so disbursed for Corporate Social Responsibility (CSR) activity for financial year 2020-21 has been utilized for the purpose and in …

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FAQs on Corporate Social Responsibility (CSR)

ITC is available on CSR Expenses: AAR

The Hon’ble AAR, Uttar Pradesh in the matter of M/S. Dwarikesh Sugar Industries Limited [Order No. 52, dated January 22, 2020] held that expenses incurred towards Corporate Social Responsibility ( “CSR” ) by the Company in order to comply with requirements under the Companies Act, 2013 ( “Companies Act” ) qualify as being incurred in the course of business and therefore, eligible for Input Tax Credit ( “ITC” ) in terms of the Section 16 of the Central Goods and Services Tax Act, 2017 ( “CGST Act” ).

Expenses Incurred for Corporate Social Responsibility (CSR) are Eligible for Claiming ITC in GST: AAR Uttar Pradesh

Expenses Incurred for Corporate Social Responsibility (CSR) are Eligible for Claiming ITC in GST: AAR Uttar Pradesh

Question: Whether expenses incurred by the company in order to comply with requirements of Corporate Social Responsibility (CSR) under the Companies Act, 2013 (‘CSR Expenses’) qualify as being incurred in the course of business and eligible for input tax credit (‘ITC’) in terms of Section 16 of the CGST Act, 2017?

Ruling by AAR: Yes.