Centre may allow companies a bigger CSR canvas to paint on
The Centre is weighing a proposal to tweak corporate social responsibility (CSR) norms for widening their scope and coverage
Tag: CSR expenditure
CBIC to come out with clarificatory circular on ITC for CSR, change unlikely in budget provision
Companies are unlikely to see any relaxation in the budget provision related with no ITC (Input Tax Credit) for CSR (Corporate Social Responsibility) expenses. However, they will not be asked to deposit ITC, availed any time since implementation of GST…
Government may restrict Input Tax Credit on CSR expenditure in the upcoming Budget 2023-24
The government is likely to introduce amendments to Goods and Services Tax (GST) law through the Finance Bill, 2023, denying businesses credit for the taxes paid while procuring goods and services that they provide to the community under their corporate…
Input Tax Credit can be Availed on Corporate Social Responsibility Expenses
The Telangana AAR, in lieu of an application filed by M/s. Bambino Pasta Food Industries Private Limited, [TSAAR Order No.52/2022] ruled that Corporate Social Responsibility (“CSR”) expenditure for business is eligible for Input Tax Credit (“ITC”). Facts: M/s. Bambino Pasta…
CSR expenditure incurred in furtherance of business eligible for Input Tax Credit (ITC)
Input Tax Credit (ITC) on corporate social responsibility (CSR) is still attracting contradictory rulings from Authority for Advance Ruling (AAR). The latest one is from Telangana AAR which has favoured ITC on CSR related purchases. “The expenditure made towards corporate…