WebFeb 16, 2024 · In a setback for companies undertaking CSR activities, the Finance Bill, 2024 has proposed an amendment to restrict the availment of Input Tax Credit on … WebMar 21, 2024 · One hopes that the proposal to deny ITC on CSR spend will be revisited given the litmus test of ITC and the fact that credit restriction will add to the cost of CSR thereby limiting the extent of CSR activities expected to be undertaken by businesses, resulting in an adverse impact on the intended beneficiary of such measures.
AAR allows ITC on goods and services procured for undertaking …
WebApr 19, 2024 · Now, we will discuss certain provisions of CGST Act, 2024 to understand the implication of GST law on CSR activities. Section 16 (1) of the CGST Act, 2024 provides for the eligibility for taking ITC. Section 16 (1) states as below: -. “Every registered person shall, subject to such conditions and restrictions as may be prescribed and, in the ... WebMar 13, 2024 · So, it can be understood that ITC can be availed on expenditure made for CSR Activities as it is in the course or furtherance of business. As per CGST Amendment Act 2024,credit should not be denied for those expenses incurred by employers in connection with statutory obligations imposed. The motto of GST law is also allowing … rbac with azure ad
The ultimate report on CSR of ITC Limited - The CSR Journal
WebMar 21, 2024 · One hopes that the proposal to deny ITC on CSR spend will be revisited given the litmus test of ITC and the fact that credit restriction will add to the cost of CSR … WebApr 23, 2024 · a) 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, 2024. b) Section … WebThe issue relates to ITC eligibility on goods and services procured for undertaking the activities of corporate social responsibility (CSR) mandated under the Companies Act, … rbaeng.com