company cannot claim Input Tax Credit (ITC) on CSR activities as CSR activity expenses are not allowable in Incometax. Hence ITC cannot be claimed.(Polycab wires pvt.ltd2019 24 GSTL 103 AAR KAR)
ITC on CSR activities
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CA Nimesh Hariya
CA Nimesh R Hariya is a member of the Institute of Chartered Accountants of India (ICAI) since 2015. He also qualified as ISA, CS, M. Com. He has been conducting Statutory & Tax audit, Internal audit of large & medium scale Limited Companies, Carrying out Bank Audits and providing services in the field of accounts, Income Tax & Company Law matters.
Posts by CA Nimesh
Dynamic QR Code on B2C Invoices
Attention GST Taxpayers whose aggregate turnover in any preceding financial year from 2017-18 onwards exceeds Rs.500 crore! Generating Dynamic QR Code on B2C Invoices issued to unregistered person. Penalty waived for non-compliance subject to conditions provided
Requirement of HSN/Service Accounting Code
Requirement of HSN/Service Accounting Code for Goods and Services on B2B Tax Invoices is mandatory w.e.f 01/04/21 Turnover more than 5 crore in preceding FY - 6 Digits HSN Code Turnover upto 5 crore in preceding FY - 4 Digits HSN Code