Tactical Gambit of ITC Discontinuation on CSR Spends - Does it Affect Corporate Value Addition in Philanthropic Causes?

Authors

  • Avik Ghosh Assistant General Manager, Reserve Bank of India, Kanpur
  • Ankit Magotra Assistant Manager, Reserve Bank of India, Kanpur

Keywords:

No Keywords.

Abstract

Taxation is a critical variable that impacts production volume and pattern, which, in turn, influences the economy's growth trajectory. India's GDP has increased from USD 2 trillion to over USD 4 trillion during the last ten years. The socio-economic benefits accruing from public-private partnerships further help to achieve Sustainable Development Goals (SDGs). Goods and services tax (GST), being a unified taxation framework in India, has resulted in increased revenues for the Government, simplifying returns for the taxed entities. GST derived from CSR activities mainly focused on development sectors like education, health, rural development, and others are mostly exempt from taxes. Input tax credit (ITC), integral to GST, has reduced the business burden.

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Published

2024-07-16

How to Cite

Ghosh, A., & Magotra, A. (2024). Tactical Gambit of ITC Discontinuation on CSR Spends - Does it Affect Corporate Value Addition in Philanthropic Causes?. The Management Accountant Journal, 59(7), 26–29. Retrieved from https://icmai-rnj.in/index.php/maj/article/view/173571

Issue

Volume 59, Issue 7, July 2024

Section

Cover Story

References

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Gupta, R., & Chakradhar, J. (2022). The consequences of mandatory corporate social responsibility expenditure: An empirical evidence from India. Business and Society Review, 127(1), 49–68. https://doi.org/10.1111/basr.12251

Kadyan, J. S. (2020). Review of CSR—Corporate Social Responsibility Initiatives of the top three CPSE’s—Central Public Sector Enterprises of India. Approaches to global sustainability, markets, and governance (pp. 257–280). https://doi.org/10.1007/978-981-15-6370-6_13

Manu, S., & Indira, M. (2018). Corporate Social Responsibility and Human Development: A case study of ITC. International Journal of Social and Economic Research, 8(2), 81. https://doi.org/10.5958/2249-6270.2018.00012.0

Srinivas, I. (2019). Report Of The High-Level Committee On Corporate Social Responsibility - 2018. In Government of India Ministry of Corporate Affairs. https://www.mca.gov.in/Ministry/pdf/CSRHLC_13092019.pdf

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