Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

<ul><li>Corporate entities will not be able to reduce their tax burden by claiming input tax credit on corporate social responsibility activities.</li><li>This could also lead to confusion amongst corporate entities since AARs of different states have given contrary rulings in this regard.</li><li>Earlier, Uttar Pradesh AAR had allowed <keyword id="12201693" type="General" weightage="20" keywordseo="ITC-on-CSR" source="Orion">ITC on CSR</keyword> activities, while Kerala AAR took the contrary position.</li></ul>Input tax credit allows registered entities under <keyword id="6354679" type="General" weightage="20" keywordseo="GST" source="Orion">GST</keyword> to claim credit on the goods and services tax (GST) that they have paid while purchasing goods or services, which can be offset from the GST that they have to pay after making sales. However, input tax credit (ITC) can’t be claimed on expenses made towards corporate social responsibility (<keyword id="6354502" type="General" weightage="20" keywordseo="CSR" source="Orion">CSR</keyword>) activities, according to a new order from the Authority for Advance Rulings (AAR) ruling in Gujarat. There are two other rulings from the same authority and one of those allows the input tax credit on CSR. According to the provisions of Companies Act, 2013, companies with a net worth of ₹500 crore or more, or turnover of ₹1,000 crore or more, or net profit of ₹5 crore or more, will have to mandatorily spend on CSR activities. The spend should be a minimum of 2% of the average net profit of the past three years. <cmsannotation type="cmsannotation" annotationid="The root of the problem" comment="subhead" text="The root of the problem">The root of the problem</cmsannotation> The primary issue here is whether CSR activities can be construed as “in course or furtherance of business”, that is, whether they are fundamental for a company to continue its business activities. However, the GST provisions do not define what exactly that would entail. For this purpose, the applicant in this case, Adama India Pvt. Ltd., relied on the provisions of Companies Act, 2013, to state that CSR activities are mandatory as per law, and not undertaking them would cause harm to the business. This, the applicant says, entitles it to take ITC on CSR activities. However, the Gujarat AAR referred to the Companies (CSR Policy) Rules, 2014, to state that CSR activities are not covered in activities “in the course or furtherance of business”. It also cited the provisions of Companies (CSR Policy) Amendment Rules, 2021, which provide a definition of CSR that excludes it from normal business activities. Essentially, the GAAR ruled that since CSR is specifically excluded from the scope of normal business activities, the applicant cannot take ITC on CSR activities. According to Ayush Mehrotra, one of the partners at Khaitan &amp; Co., this is likely to further increase litigation in GST. “The GST framework is wide enough to inter alia include activities without pecuniary benefits and those which are incidental or ancillary to main business. As such, the present ruling will only cause further litigation on GST which was otherwise expected to be a simpler and straightforward framework,” he told Business Insider. <cmsannotation type="cmsannotation" annotationid="Contrary AAR rulings put corporates in a bind" comment="subhead" text="Contrary AAR rulings put corporates in a bind">Contrary AAR rulings put corporates in a bind</cmsannotation> Gujarat AAR’s ruling is in contrast to that of the Uttar Pradesh AAR, which allowed the applicant to take the credit of Goods and Services Tax (GST) paid by the company while purchasing goods to be used for CSR activities. However, it is in line with the Kerala AAR, which passed a similar ruling in the matter of Polycab Wires donating flood relief items. “It is also noteworthy to highlight that since this ruling is in contradiction to prior rulings issued by competent authorities in other states, the urgent need for a national authority is once again being felt to ensure certainty of legal position,” Khaitan added further. The exclusion of ITC on CSR activities will mean that corporate entities will not be able to reduce their tax burden by claiming <keyword id="12201691" type="General" weightage="20" keywordseo="GST-input" source="Orion">GST input</keyword> credit. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/swiggy-tightens-focus-on-grocery-delivery-as-zomato-steps-out/articleshow/86582683.cms">Swiggy tightens focus on grocery delivery, as Zomato steps out</a> <a href="https://www.businessinsider.in/policy/legal/news/sc-landmark-ruling-in-the-samsung-heavy-industries-case-could-have-a-positive-effect-on-ease-of-doing-business-in-india/articleshow/77148341.cms">Supreme Court’s landmark ruling in the Samsung Heavy Industries case could have a positive effect on ease of doing business in India</a> <a href="https://www.businessinsider.in/policy/legal/news/these-are-the-common-laws-that-you-may-be-inadvertently-breaking-in-india/slidelist/76638782.cms">These are the common laws that you may be inadvertently breaking in India</a>

Can you claim input tax credit on CSR expense ⁠— three authorities have two different rulings

The new year 2022 is going to bring a significant change in the manner of availing <keyword id="6456395" type="General" weightage="20" keywordseo="input-tax-credit" source="Orion">Input Tax Credit</keyword> (ITC) by the taxpayers under the Goods and Services Tax Act. The additional condition to avail ITC by the recipient of goods/services introduced by the <keyword id="6374292" type="General" weightage="20" keywordseo="finance-act" source="Orion">Finance Act</keyword>, 2021 has been made effective from January 1, 2022. With the upcoming change, ITC on an invoice/debit note can be availed by a recipient only when details of such invoice/debit note have been furnished by the supplier in his outward supplies (GSTR-1) and such details have been communicated to the recipient of such invoice in Form GSTR-2B. Basically, a buyer will not get credit for the tax paid if the supplier does not upload the invoice and file returns on the <keyword id="6354679" type="General" weightage="20" keywordseo="gst" source="Orion">GST</keyword> portal in a timely manner. Henceforth, the taxpayer will not get the benefit of availing 5% provisional ITC as allowed under aforesaid rule. <cmsannotation type="cmsannotation" annotationid="Implications of the change on businesses" comment="subhead" text="Implications of the change on businesses">Implications of the change on businesses</cmsannotation> One of the major rigours of the above amendment is that it will increase the dependency of recipients on their suppliers for availing any ITC on their supplies. Unless the suppliers report their supplies over the GST portal aptly and the same is visible in their auto drafted GSTR-2B, the ITC on such supplies will not be available to the recipient even if other conditions for availing ITC have been duly satisfied. This brings in dual responsibility on the taxpayers, one to ensure correctness of their own compliances and second to also ensure correct compliances by their suppliers. And if they don’t do the same, they will be the one who will lose their legitimate ITC due to the fault of their suppliers. <cmsannotation type="cmsannotation" annotationid="How can businesses protect their ITC now? Vendor agreements." comment="subhead" text="How can businesses protect their ITC now? Vendor agreements.">How can businesses protect their ITC now? Vendor agreements.</cmsannotation> With such draconian provisions being brought in GST, it is imperative for the businesses to safeguard themselves by introducing such stringent and unwavering clauses in their vendor agreements which will protect them from any loss incurred by them due to failure on part of the supplier to upload invoices or incorrect uploading of invoices of supplies made to recipient under GSTR-1 or due to any other technical flaw and entitle them to offset or recover the same from such defaulting suppliers. <cmsannotation type="cmsannotation" annotationid="Civil suits in case of disagreements" comment="subhead" text="Civil suits in case of disagreements">Civil suits in case of disagreements</cmsannotation> Unless stringent clauses are incorporated in the vendor agreements, it will be difficult for the recipients to claim any remedy under GST law in case any such loss is incurred by them due to non-compliance of the supplies. Therefore, the last legal recourse that may be available to them will be to file civil suits for recovery which itself is a long-drawn process. <cmsannotation type="cmsannotation" annotationid="Improving in-house processes will be the key to ensure ITC is not lost" comment="subhead" text="Improving in-house processes will be the key to ensure ITC is not lost">Improving in-house processes will be the key to ensure ITC is not lost</cmsannotation> In order to avoid any such complexities, businesses should proactively build in-house processes for the relevant stakeholders such as accounts payable team, tax team, finance team etc. to ensure legitimate ITC is not lost. For instance, accounts payable team should ensure that payment for any invoice is not made unless the same is available on the GST portal. Likewise, the tax team should ensure that no ITC is taken on any invoice unless the same is appearing on the GST portal as this may result in denial of ITC later. <cmsannotation type="cmsannotation" annotationid="Other practical solutions to make sure businesses don’t lose ITC" comment="subhead" text="Other practical solutions to make sure businesses don’t lose ITC">Other practical solutions to make sure businesses don’t lose ITC</cmsannotation> Time to time reconciliations from the data available on portal before taking ITC, rigorous follow up with vendors for timely reporting of their invoices, email communications with the suppliers in case of non-reporting or misreporting, holding payments of non-compliant vendors, etc. are some of the practical solutions which can be implemented by the businesses at their end to ensure legitimate ITC without affecting cash flow of the company. <cmsannotation type="cmsannotation" annotationid="Concluding remarks" comment="subhead" text="Concluding remarks">Concluding remarks</cmsannotation> As a closing remark, it won’t be improper to state that having such restrictive provisions runs absolutely contrary to the intention behind introduction of the GST regime which was to eliminate the cascading impact of taxes that existed under the erstwhile regime and to allow free movement of credit. There is no denial that the government must combat bogus invoicing but while doing so it should not harass bonafide taxpayers by increasing compliance burden on them. Note: This is an opinion piece by CA Tushar Aggarwal, Founder Partner Tattvam Advisors &amp; CA Geetika Shrivastava, Executive Partner Tattvam Advisors. SEE ALSO: <a href="https://www.businessinsider.in/finance/news/heres-how-to-avail-gst-credit-if-your-supplier-has-not-uploaded-invoices/articleshow/81145678.cms">Here’s how to avail GST credit if your supplier has not uploaded invoices</a> <a href="https://www.businessinsider.in/policy/legal/news/can-you-claim-input-tax-credit-on-csr-expense-three-authorities-have-two-different-rulings/articleshow/86609122.cms">Can you claim input tax credit on CSR expense ⁠— three authorities have two different rulings</a> <a href="https://www.businessinsider.in/policy/legal/news/cloud-kitchens-are-restaurants-ice-cream-is-not-food-and-other-important-clarifications-that-will-affect-gst-rates/articleshow/86841614.cms">Cloud kitchens are restaurants, ice cream is not food and other important clarifications that will affect GST rates</a>

OPINION: GST Input Tax Credit changes from January 1 – Things to ask your vendor, how to protect your ITC and more

<ul><li>Gaurav Patra, Founder, <keyword id="9175088" type="UNKNOWN" weightage="20" keywordseo="value360-communication">Value360 Communication</keyword> pens down a few reasons why marketers are choosing to focus on <keyword id="557554" type="PERSON" weightage="20" keywordseo="CSR-activities">CSR activities</keyword> right now. </li><li>He further writes how, through the right channel, together - one voice, we can safeguard our nation and help fight this global pandemic.</li></ul>In recent times, CSR has become an integral part of any company’s business strategy. It comprehends various ways in which businesses can have a positive impact by showcasing its commitment towards economic and social development. Over the last few years, we have seen the rise in marketers’ focus towards <keyword id="113603" type="ORGANIZATION" weightage="20" keywordseo="corporate-social-responsibility">corporate social responsibility</keyword>. Companies like Google, Microsoft, Disney, ITC, have set an example exhibiting their commitment towards environmental sustainability and diversity. Under the Companies law, “Certain classes of profitable entities have to shell out at least 2 per cent of their three-year annual net profit towards <a href="https://auto.economictimes.indiatimes.com/tag/corporate+social+responsibility">Corporate Social Responsibility</a> (CSR) activities in a particular financial year”. As the Covid 19 outbreak continues across the globe, the significant economic slowdown has already been observed worldwide, which has impacted most of the industries. However, it’s encouraging to see that even in the midst of such challenging times, companies and marketers are coming forward and pivoting strategy to support the society. In view of the spread of Coronavirus in India and its declaration by WHO as pandemic, Government of India also announced the spending of funds for the relief of <keyword id="8763838" type="UNKNOWN" weightage="20" keywordseo="covid-19">Covid-19</keyword>, as a part of CSR activity. In this hour of global crisis, various marketers are stepping up and aligning their strategy in line with the announcement made by the government. Brands should take this as an opportunity to look inward and be as resourceful as possible towards the cause. Many companies and businesses are donating certain amounts to the “PM Cares Fund” formed by the Government of India, while others focus on facilitating vital necessities like masks, sanitizers, gloves, medicines, food to the underprivileged, health institutions, hospitals, etc. Marketers and brands are also committing a certain portion of their CSR funds towards Covid Fund. They are also placing health check-up camps in tier 2 cities in order to help migrants get tested first hand. Few brands have also come forward to manufacture ventilators, sanitizers, thermal testers, drones lending assistance to the government in combating this pandemic situation. While the whole nation is under lockdown for 21 days, brands are focusing on newer ways to contribute towards the society in the current scenario. With the ongoing situation, it is important for the marketers to channelize their approach with creative campaigns to create awareness amongst the individuals on social distancing and safeguarding themselves in order to fight the crisis, emphasizing the importance of staying indoors. Where several companies have launched their digital campaigns on social media like #SafeHandsChallenge, #NamasteKaro, backing the government towards social distancing, it is also important to educate and create awareness amongst the migrant laborers and underserved section of the society about the current crisis and the precautionary measures to be taken care of. The above mentioned cases show how some companies are channelizing the work of public bodies while others are filling the gaps of the supply chain that was getting adversely affected due to the lockdown. Given the scale and urgency of the situation, brands should co-create their solutions as an effective response to covid 19 outbreak. Together, through the right channel, one voice, we can safeguard our nation and help fight this global pandemic. - By Gaurav Patra, Founder, Value360 Communication

How marketers are now focusing on CSR in current COVID-19 situation

<ul><li><keyword id="6357073" type="UNKNOWN" weightage="20" keywordseo="ITC">ITC</keyword> announced that it has set up a ₹150 crore contingency fund to fight the <keyword id="1754604" type="PERSON" weightage="20" keywordseo="coronavirus">coronavirus</keyword> pandemic. </li><li>The fund will also be available for the people in the frontline of the pandemic by providing them with protective personal gear and hygiene products.</li><li>ITC will also work with state authorities and local administration to ensure that manufacturing and distribution activities continue uninterrupted with bare minimum people. </li></ul>Indian business conglomerate ITC announced that it has set up a ₹150 crore contingency fund to fight the coronavirus pandemic. “This fund will be utilised primarily to provide relief to the vulnerable and most needy sections of society who have been harshly impacted by the pandemic and have faced significant disruption in their livelihoods,” said the company’s official statement. The company will also work with district authorities in various states to make way for assistance in a healthcare ecosystem which will reach out to the weaker sections of the society. The fund will also be available for the people in the frontline of the pandemic by providing them with protective personal gear and hygiene products. With the supply chain of essential services including groceries and medicines having been hit – ITC will work with state authorities and local administration to ensure that manufacturing and distribution activities continue uninterrupted with bare minimum people. Earlier, Reliance Industries announced that it has built India’s first <keyword id="8763838" type="UNKNOWN" weightage="20" keywordseo="covid-19">Covid-19</keyword> hospital and an isolation centre as well. A similar move was announced by Tata Sons chairman N Chandrasekharan. "During this time of crisis, our group companies commit to ensuring full payments to the temporary workers and daily wage earners who are working in our offices and at our sites in India for the month of March and April, 2020, even if these workers are not able to work due to either quarantine measures, site closures, plant shutdowns or other reasons," Chandrasekharan said in a statement. The government earlier announced that amounts spent by corporates to control Coronavirus will be considered a part of their Corporate Social Responsibility.(CSR) initiatives. A circular from the Ministry of Corporate Affairs said that corporate spending for various activities related to Covid-19 including promotion of healthcare, preventive healthcare, sanitation, disaster management would qualify for treatment as CSR. As per government rules, all listed companies should spend at least 2% of their profits on CSR. See Also: <a href="https://www.businessinsider.in/india/news/data-of-coronavirus-patients-state-wise-in-india/articleshow/74669748.cms">Coronavirus cases in India</a> <a href="http://businessinsider.in/business/news/reliance-employees-who-earn-less-than-30000-will-be-paid-twice-a-month-in-the-wake-of-coronavirus/articleshow/74775193.cms">Reliance employees who earn less than ₹30,000 will be paid twice a month in the wake of Coronavirus</a>

ITC announces a ₹150 crore Covid-19 contingency fund

New Delhi, Jan 23 () Corporate Social Responsibility (CSR) spending by companies listed on NSE increased 18 per cent to Rs 11,961 crore in 2018-19, as per a report. 
 During 2017-18, the firms listed on NSE had spent Rs 10,179 crore.
 "CSR expenditure by companies listed at NSE has grown at a healthy compounded annual growth rate of 17 per cent over the last 5 years," a report by nseinfobase.com, a joint venture between NSE and PRIME Database, said.
 Reliance Industries, ONGC, Indian Oil Corporation, HDFC Bank, Tata Consultancy Services, Infosys, Tata Steel, ITC, NTPC and Power Grid Corporation of India are the top 10 companies which spent the most on CSR during financial year 2018-19, the report said.
 "The top 10 companies together spent 36 per cent of the total spend on CSR," the report said.
 Besides, there were 488 companies which exceeded their prescribed spending and 37 companies spent on CSR despite reporting a loss.
 "PSU spending saw an increase of 4 per cent from previous year. 57 PSUs spent Rs 3,198 crore in 2018-19, up from Rs 2,710 crore spent by 54 PSUs in 2017-18," the report stated.
 As on March 31, 2019, 1,786 companies were listed on NSE. However, the analysis is based on 1,132 companies listed on NSE as on March 31, 2019 and obligated to spend on CSR and for which CSR details were available in their annual reports.
 Of the total funds spent on CSR, maximum spending was on education and vocation skills at over Rs 4,440 crore.
 Among other areas, hunger, poverty and healthcare witnessed a spending of Rs 3,242 crore, rural development Rs 1,322 crore and environmental sustainability nearly Rs 1,020 crore, the report found. 
 Areas such as armed force veterans, technology incubators, slum development and disaster management saw negligible spends. 
 Giving a state-wise overview, the report said that top 10 states which received maximum CSR funds were Maharashtra, Gujarat, Rajasthan, Karnataka, Tamil Nadu, Odisha, Delhi, Andhra Pradesh, West Bengal and Telangana.
 The top 10 states accounted for 47 per cent of the total CSR expenditure.
 According to Pranav Haldea, managing director of PRIME Database Group, "not all areas of the country are benefitting equally. Since the Act decrees that companies shall give preference to the local area, the more industrialised parts of the country are cornering a larger share."
 Under the Companies Act, 2013, certain class of profitable entities are required to shell out at least 2 per cent of their three-year annual average net profit towards CSR activities. SRS 
RVK

CSR expenditure by cos listed on NSE up 18 pc to Rs 11,961 cr: Report

Reliance Industries pipped state owned <keyword id="6354737" type="CITY" weightage="20" keywordseo="ONGC">ONGC</keyword> and <keyword id="6354512" type="CITY" weightage="20" keywordseo="Infosys">Infosys</keyword> to emerge as the top company to spend on <keyword id="113603" type="ORGANIZATION" weightage="20" keywordseo="corporate-social-responsibility">corporate social responsibility</keyword> (<keyword id="6354502" type="ORGANIZATION" weightage="20" keywordseo="CSR">CSR</keyword>). 
 
Reliance Industries spent over Rs 760 crore. State-wise, Maharashtra has topped the chart in terms of CSR spending. The state has 202 projects. 
 
Reliance Industries shelled out Rs 760.58 crore on CSR followed by ONGC (Rs 495.23 crore), Infosys (Rs 239.54 crore), TCS (Rs 219 crore) and ITC (Rs 214.06 crore). 
 Corporate Affairs Minister <keyword id="42575" type="PERSON" weightage="20" keywordseo="Arun-Jaitley">Arun Jaitley</keyword> said a total of 460 listed firms have so far disclosed spending Rs 6,337.36 crore in 2014-15. This included 51 PSUs that spent Rs 2,386.60 crore. 
 
The new Companies Act mandates every company with a net worth of Rs 100 crore to set aside minimum 2 per cent of their three-year average annual net profit for CSR activities. 
 
Companies also allocated funds towards clean Ganga Fund, Swachh Bharat Kosh, promotion of sports, art and culture. 
 
(Image: Thinkstock)

Would you believe Reliance tops corporate social spending this year!

Let's not waste time discussing the superficial policies and motives behind <keyword id="6607915" type="UNKNOWN" weightage="60" keywordseo="environment-friendly">environment-friendly</keyword> business policies of the big companies as they are doing it for their own sake. Companies such as <keyword id="44863" type="CITY" weightage="80" keywordseo="HUL">HUL</keyword>, <keyword id="47120" type="CITY" weightage="80" keywordseo="PG">P&amp;G</keyword> and <keyword id="54572" type="CITY" weightage="80" keywordseo="PepsiCo">PepsiCo</keyword> are transforming business processes, factories, sourcing practices, packaging and distribution offices, etc., to counter rising costs, mitigate risks and, basically, save themselves not the planet. 
 Yes, a solid <keyword id="6354502" type="ORGANIZATION" weightage="80" keywordseo="CSR">CSR</keyword> record looks fantastic on paper. It sounds even better when weaved into the chairman's speech, at HQs or at Davos, where arctic meltdowns had taken a backseat to those of the financial kind, according to an Economic Times report. 
	 

	So what are the reasons behind it? We should remember that at the end of an increasingly warmer day, companies have a business to run, employees to pay and stakeholders to answer too. And one would also agree that CEOs will always put quarterly financial reports before climate destabilisation reports. 
	 

	Indeed, making the case for more businesses across the spectrum to adopt sustainable practices is the fact that securing the Earth's future and the company's bottom line, is one and the same thing. Priya Nair, executive director — home care, HUL, said, "As organisations realise this is about business and not just social responsibility then it becomes the heart of brand management, innovation and business processes." 
	 

	Now read how the big companies have made profits! Since 2008, Unilever has avoided factory costs of over 400 million by reducing its environmental impact. The <keyword id="34523" type="CITY" weightage="80" keywordseo="fmcg">FMCG</keyword> major's competition, P&amp;G's Waste to Worth program has successfully found uses for tons of material that was previously sent to landfills; and in the process has created nearly $2 billion in value for the company through cost savings and revenue generation. For instance, in Mexico, waste from the production of Charmin toilet tissue is recycled and used to make roofing tiles. In India, P&amp;G's Mandideep site uses scrap material to build partitions for low cost housing. 
	 

	"Through this process we are able to diverge 3000 tons of waste per year away from landfill and convert our waste into a product with value," says a P&amp;G spokesperson. On the packaging front, a seemingly insignificant tweak on <keyword id="113080" type="COMPANY" weightage="80" keywordseo="Olay">Olay</keyword> Total Effects bottlepump design saved the company 800,000 tons of plastic a year. Since 2007, P&amp;G has reduced packaging by 7% per consumer use; the goal is a reduction of 20% by 2020. PepsiCo's saved over 1,000 metric tonnes of PET in 2013 through innovations in its packaging sustainability efforts. 
	 
	
		Of the 130 Heineken breweries across the world, 23 are located in water scarce areas, some in Algeria, Egypt, Tunisia, Indonesia and Spain. Bringing the environment dimension closer to the organisational goals in various ways includes building solar breweries and sustainable water sources. 
		 
	
		As Heineken's director global sustainable development, Michael Dickstein observes, "It is not just about eco-efficiency or risk mitigation but also about business opportunity." 
		 
	
		In the last couple of years, Heineken has saved around 75 million through its eco-efficiency programs. At the Nyongera brewery in Burundi 100% of product raw materials are locally sourced. Also the brewer has the highest percentage of returnables from production. And in partnership with local farms, the residuals from the brewing process goes into cattle feed as it is rich in nutrients. "We are making sure the shifts are not revolutionary but rather evolutionary in order to keep in balance the profit base i.e. the famous triangle of people, planet, profit," says Dickstein. 
		 
	
		The tectonic shifts in the way consumers perceive the role of brands today, have also quickened the pace of transformation. A recent study by McCann Worldgroup indicated that 85% of consumers believe that global brands have the power to make the world a better place. 84% said their ability to effect positive change is higher than that of governments. 
		 
	
		For Indian conglomerate ITC, present in categories from foods to hospitality, sustainability efforts focus on two specific areas — the creation of sustainable livelihoods and environmental replenishment. 
		 
	
		India is home to 17% of the world population, but has only 2.4% of its land mass, 4% of the planet's water resources, and 1% of global forest resources. And one-third of the global poor live in India. 
		 
	
		Pradeep Dhobale, executive director, ITC, asserted, "Globally, the key challenges that are of immense concern are poverty, social inequity and environmental degradation. India mirrors these challenges. Therefore, it is critically important to find ways of replenishing the environment and addressing the threat of climate change that makes rural societies even more vulnerable. ITC's sustainability strategy focuses on Triple Bottom Line performance that builds and enriches the country's economic, environmental and societal capital." 
		 
	
		Documentaries on disappearing glaciers, homeless mammals, deadly droughts, depleting ozone and a world on precipice of disaster just might get people to put their empty Evian bottles in the right trash can or even set up compost pits in the backyard. But it's never enough to push companies, big and small, and governments, to tackle environmental and climate change with any degree of urgency. However, the fact that going green will lead to better growth just might do the trick. 
		 
		(Image: Indiatimes)

Companies like HUL, P&G & PepsiCo going green for their own sake

<ul><li>The 45th meeting of the <keyword id="6355040" type="General" weightage="20" keywordseo="gst-council" source="Orion">GST council</keyword> has clarified matters pertaining to the rate of <keyword id="6354679" type="General" weightage="100" keywordseo="gst" source="Orion">GST</keyword> applicable on several services.</li><li>This includes cloud kitchens, alcoholic liquor, ice cream parlours among others.</li><li>Check out the latest news and updates on <a href="https://www.businessinsider.in/">Business Insider</a>.</li></ul>The <keyword id="6359833" type="General" weightage="20" keywordseo="goods-and-services-tax" source="Orion">Goods and Services Tax</keyword> (GST) regime was introduced in 2017 in India to simplify the consumption-based tax system, but several dozens of issues and complexities remain in the system more than four years after its introduction. One of the reasons behind this is the ever-evolving business landscape – for instance, while cloud kitchens have been around in informal setups for a long time now, the formal sector has only caught up recently largely due to the Covid-19 pandemic. With many of these cloud kitchen companies coming under the ambit of GST due to an explosion in popularity, it’s important to understand how the government looks at them, so they can collect GST at the applicable rate. To clear the confusion and clarify what rate of GST is applicable on many of these services, the government has issued a circular that goes into each category’s detail. Here is a summary: <cmsannotation type="cmsannotation" annotationid="Cloud kitchens are restaurants" comment="subhead" text="Cloud kitchens are restaurants">Cloud kitchens are restaurants</cmsannotation> The GST council has clarified in its circular that cloud kitchens provide the same services that a restaurant does, and as such, they would be covered under the definition of a restaurant under the act. This includes regular restaurants, cafes, takeaway services, room services and food delivery services. This means that cloud kitchen firms will have to charge GST at the rate of 5%, without taking any input tax credit (ITC), under the GST composition scheme. Alternatively, they can charge GST at the rate of 18% if they want to claim input tax credit. <cmsannotation type="cmsannotation" annotationid="Ice cream parlours are not restaurants" comment="subhead" text="Ice cream parlours are not restaurants">Ice cream parlours are not restaurants</cmsannotation> Another important aspect that affects consumers directly is whether ice cream parlours are to be considered as restaurants or not. The council observed that ice cream parlours do not engage in any form of cooking at any stage, and as such, are not covered under the scope of restaurants. It noted that these parlours sell already-manufactured ice cream. As such, this would attract GST at 18% and not 5%. <cmsannotation type="cmsannotation" annotationid="Amusement parks with rides" comment="subhead" text="Amusement parks with rides">Amusement parks with rides</cmsannotation> The council clarified that amusement parks, which have casinos or race clubs, will have to charge GST at the rate of 28% on the services provided by them. However, if these parks do not have casinos or race clubs, or if they do not provide access to them, the applicable GST rate will be 18%. <cmsannotation type="cmsannotation" annotationid="Coaching services to students with disabilities" comment="subhead" text="Coaching services to students with disabilities">Coaching services to students with disabilities</cmsannotation> The council clarified that coaching institutes and non-governmental organisations (NGOs) which provide coaching services under the central government’s “Scholarships for students with disabilities” scheme are exempt from GST, and as such, there will be no GST on the coaching services offered by them. <cmsannotation type="cmsannotation" annotationid="Alcoholic liquor is not food" comment="subhead" text="Alcoholic liquor is not food">Alcoholic liquor is not food</cmsannotation> Firms which manufacture alcoholic liquor for human consumption for brand owners will have to charge GST at the rate of 18%. A clarification was sought whether alcoholic liquor is covered under the definition of food and food products, and the GST council underlined that alcoholic liquor is excluded from the purview. As such, this would attract GST at 18% and not 5%, which is otherwise applicable on food and food products. SEE ALSO: <a href="https://www.businessinsider.in/policy/legal/news/can-you-claim-input-tax-credit-on-csr-expense-three-authorities-have-two-different-rulings/articleshow/86609122.cms">Can you claim input tax credit on CSR expense ⁠— three authorities have two different rulings</a> <a href="https://www.businessinsider.in/policy/legal/news/sc-landmark-ruling-in-the-samsung-heavy-industries-case-could-have-a-positive-effect-on-ease-of-doing-business-in-india/articleshow/77148341.cms">Supreme Court’s landmark ruling in the Samsung Heavy Industries case could have a positive effect on ease of doing business in India</a> <a href="https://www.businessinsider.in/policy/legal/news/these-are-the-common-laws-that-you-may-be-inadvertently-breaking-in-india/slidelist/76638782.cms">These are the common laws that you may be inadvertently breaking in India</a>

Cloud kitchens are restaurants, ice cream is not food and other important clarifications that will affect GST rates

<ul><li>The <keyword id="183099" type="ORGANIZATION" weightage="20" keywordseo="BSE-Auto-Index">BSE Auto index</keyword> surged nearly a percent on December 16, with Ashok Leyland and Tata Motors leading the way. The index has gained 16% since September 30. </li><li>A Parliamentary Standing Committee seeks more stimulus aside from other measures to boost demand, and revive the <keyword id="34478" type="PERSON" weightage="20" keywordseo="auto-industry">auto industry</keyword> in India. </li><li>The recommendations include regulatory relief, financial incentives for the scrappage policy, discount on research and development and more loans for dealers, but with less collateral. </li><li>The Committee also recommended reducing the GST rate to 18% from 28% to bring down a sizable amount in vehicle price. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian benchmark indices remained in the grip of bulls, recording fresh highs during the trade today and one of the big drivers of today’s rally were the auto stocks. The BSE Auto index surged nearly a percent on December 16, with Ashok Leyland and Tata Motors leading the way. Car and truck makers in India are not in good shape. The car makers were already broken with months of falling sales before the pandemic struck but now, there is hope in the horizon⁠— a parliamentary panel can see their pain. Their proposals include a recommendation to cut Goods and Services Tax (GST) rate by 10%. A Parliamentary Standing Committee, which pegged the loss to the industry at about ₹2,300 crore ($312 million), wants the government to release more stimulus to revive the sector. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Stocks </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Today's gain </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Ashok Leyland </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5.48% </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Motors </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.07% </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">M&amp;M </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.89 </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TVS Motors </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.88% </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">MRF </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.62% </td></tr></tbody></table>Source: BSE Auto Index There has been some recovery in auto sales in recent months. But, there is a peculiar situation in India, where the car makers and the dealers can’t agree whether the sales in the month of November were good or not! While the Society of Indian Automobiles, the lobby of car manufacturers, said <a href="https://www.businessinsider.in/business/auto/news/festive-boost-passenger-vehicle-sales-jump-13-in-november-two-wheelers-rose-14/articleshow/79676027.cms">it has been a great month</a>, the dealers association <a href="https://www.businessinsider.in/business/auto/news/passenger-vehicle-retail-sales-rise-4-two-wheeler-decline-21-despite-festive-boost-fada/articleshow/79622188.cms">wasn’t as excited</a>. The recommendation from the Parliamentary panel has come at a time when car makers like Maruti and Mahindra &amp; Mahindra have already announced discounts⁠— a usual fair at the end of every year⁠— after a losing an entire year to the pandemic and its extended impact. The recovery of this segment of industry is important because it employs a large number of people, many unskilled or less-skilled ones, and as per the panel’s estimate, 345,000 people have already lost their jobs. These are major items recommended by the Parliamentary Standing Committee: <ul><li>Consider wages paid to contract workers as charity: The committee recommended that the expenditure incurred by automakers for making payments to the temporary and contract labour during the lockdown period should be eligible as corporate social responsibility (CSR) expense. This move will help the automaker from tax paid on salaries. </li></ul><ul><li>Give more time to pay suppliers and vendors: It also recommended that the condition to avail ITC (Input Tax Credit) requiring payment of invoice to the supplier within 180 days of invoice to be done away with, till the situation returns to normal. Or at least should be provided with a waiver of interest which is charged from the date of invoice of the supplier, as most payments to the vendors will be deferred in the present scenario. The input credit helps the automaker to reduce the already paid raw material tax at the time of paying tax on output. </li></ul><ul><li>Reduce need for testing and regulatory approvals: A provision should be made for acceptance of self-certification by OEMs, instead of testing and approval by Government agencies for meeting regulatory requirements. Also a prioritised attention should be given to new approvals of alternate materials/parts identified for testing for compliance and validation purposes and fast track approvals by testing agencies. </li></ul><ul><li>Double the waiver on demurrage charge: Instead of 50%, 100% waiver on demurrage charges to be provided at the Airports/Seaports and rail yards until 1 month post resumption of full commercial production. </li></ul><ul><li>Reduce depreciation on value of vehicles: To make up the lost sales in March 2020 vehicles purchased till May 30 be permitted to enjoy 6 months depreciation in FY 2019-2020 — which will help in stimulating sales. </li></ul><ul><li>Discount on research and development: The government should also give a temporary exemption on import/export taxes and a 50% discount in testing prices in National Automotive Testing and R&amp;D Infrastructure Project (NATRIP) facilities.</li></ul><ul><li>More loans for dealers, but with less collateral: The Committee also recommended that the collateral norms for regular loan products for Auto Dealers should be moderate for availing required finance. It addressed that though banks have been facing various challenges because of bad loans, however, they should not look at all financial lendings with the same eye as the recovery rate is very high in the <keyword id="46265" type="PERSON" weightage="20" keywordseo="Auto-sector">auto sector</keyword>.</li></ul><ul><li>Financial incentives in the Scrappage Policy: The committee said that in addition to setting of Automotive Vehicle Scrapping Facility (AVSF) centres across the country, the government should make provisions for upfront financial incentives in the Scrappage Policy to boost demand for purchase of new vehicles. </li></ul><ul><li>GST reduction: To mitigate this cost increase, the Committee said the reduced GST rate to 18% from 28% at the moment. It said it will bring down a sizable amount in vehicle price creating more demand for newer vehicles. The increased sale due to the reduction in GST rate, will cover up the loss in GST revenue.</li></ul>Federation of Automobile Dealers Associations of India President Vinkesh Gulati welcomes the recommendations from the Parliamentary Standing Committee. “We had recommended One Nation – One Road Tax. I am happy to note that the committee found it relevant. It will also be praiseworthy if the Government accepts the committee’s recommendation of introducing effective rate of depreciation as 25% on permanent basis thus helping in improving sales,” he said in a statement to Business Insider. SEE ALSO:<a href="https://www.businessinsider.in/business/corporates/news/interview-home-recipes-that-are-set-for-a-7-million-ipo-mrs-bectors-food-is-no-cookie-cutter/articleshow/79721783.cms" data-type="tilCustomLink"> INTERVIEW: Home recipes that are set for a $73 million IPO⁠— Mrs Bector’s Food is no cookie cutter</a> <a href="https://www.businessinsider.in/thelife/personalities/news/facebook-ceo-mark-zuckerberg-and-reliance-industries-mukesh-ambani-spoke-but-had-no-chemistry/articleshow/79739547.cms" data-type="tilCustomLink">Zuckerberg spoke to Ambani but there was no chemistry — even with a multi-million dollar partnership between them</a>

India’s auto stocks cheer after Parliamentary Panel agrees that they need more stimulus and the dealers need loans with less collateral

●Themed ‘Innovation for All’, the event focused on amplifying impact through revolutionary technologies ●Villgro announced total funding to the tune of INR 4 crore through iPitch. Winners included BeAble Health, Kritsnam, Cultyvate, along with several other social impact startups ●30+ pertinent panel discussions around social innovations in agritech, medtech, cleantech &amp; employability were hosted by 100+ industry experts December 07, 2019: Villgro, India's oldest and foremost social enterprise incubator, successfully wrapped up its Unconvention 2019 conference on 7th December 2019. As always, the event was a high-decibel confluence of leading social entrepreneurs, CSR professionals, investors, policymakers, and academia. Aimed at understanding the crucial nature of constant innovation to power the next phase of social entrepreneurship, Uncovention’s 10th edition was indubitably a resounding success. <a name="m_-6531833679794319461_m_6042435902640344815__gjdgxs"></a>Day 1 of Unconvention started with a power-packed mentor meet – a workshop with former, current and potential Villgro mentor who discussed the importance and challenges of mentorship, specifically in the social sector. This was followed by several round-table discussions around the conference theme – Innovation for All: Amplifying impact potential for philanthropic capital. These discussions were aimed at donors looking at diversifying their impact portfolio. The opening address, describing the prolific 20-year journey of Villgro, was then presented by R. Ramaraj (Senior Advisor, Elevar Equity &amp; Board Member, Villgro); NK Chaudhary (Chairman &amp; Managing Director, Jaipur Rugs), then hosted a fireside chat covering the importance of low cost innovation to create large-scale impact. This was followed by a discussion on making innovations accessible to next billion, comprising Sharad Sharma of iSPIRT, Bindu Ananth of Dvara Trust, and others, moderated by PR Ganapathy (Regional Director India, Stanford Seed). The event then gave way to the most sought-after part of Unconvention. The winners of iPitch, Villgro’s investment discovery platform were announced. This year, backed by donors like Hindustan Unilever Foundation (HUF), and iPitch investment partners like Menterra, Upaya Social Ventures, Beyond Capital Fund, the total investments worth 4 crore were offered to early-stage start-ups such as Kritsnam Technologies, Oscillo Machines, Lal10, Flexmotiv and more. Arunabha Ghosh (CEO, Council on Energy, Environment, and Water (CEEW)) &amp; Paul Basil (CEO, Villgro) then launched the multi-million dollar 'Powering Livelihoods' initiative by Villgro &amp; CEEW. The next set of sessions included the much needed masterclass on “Data Protection Law” by Unconvention’s Legal Compliance Partner GameChanger Law Advisors. Shobini Mukerji (Executive Director, J-PAL), Shama Karkal (CEO, Swasti Health Catalyst), and Aparajita Agrawal (Former Co-founder &amp; Director, Sankalp Forum) covered diverse topics. These included access to capital for social sector start-ups, creating awareness and market access, and innovative financing models. The day wrapped up with a networking session dubbed as ‘Investor Speed Dating’ which entailed one-on-one conversations with industry-leading investors. Day 2 of Unconvention commenced with a closed door session with select medtech entrepreneurs and Dr. <keyword id="172787" type="PERSON" weightage="20" keywordseo="Devi-Shetty">Devi Shetty</keyword> (Chairman and Founder, Narayana Health), followed by his keynote address. He highlighted the key learnings from his 20-year journey with Narayana Health. He was introduced by Dr. Paul Salins (Managing Director and VP, Narayana Health and Mazumdar Shah Cancer Centre). This was followed by another round of investor speed dating and a masterclass on Being Compliance Ready by Unconvention’s Financial Compliance Partner SpiceRoute Business. The day was dedicated to sector-specific sessions, focusing primarily on Education, Energy, Agriculture and Health. Commenting on the state of renewable energy in India, Arunabha Ghosh, CEO, CEEW, said, India alone has more than $50bn worth market for clean energy solutions for rural livelihoods. Powering Livelihoods, a joint initiative between CEEW and Villgro, aims to trigger the transformation of India's rural economy by scaling up the deployment of clean energy-powered livelihood solutions. By marrying CEEW's deep expertise in evidence generation and sectoral engagement with Villgro's years of experience in growing businesses, the initiative provides significant capital, capacity building, and ecosystem support to enterprises to scale up these solutions. Furthermore, there was an enlightening session on Energy and Cleantech addressed by some of the eminent personalities in the industry such as Tanya Kothari of Shell Foundation, Svati Bhogle of Sustaintech India Pvt Ltd. and Col. Manish Ahuja of PREFPL. The topics that were discussed in the session included leveraging energy innovations as a growth catalyst for India’s micro enterprises, entrepreneurship in times of climate change and future of clean mobility. The discussion around the education &amp; employability sector focused on Leveraging the gig economy for impact and Collaborating for tech for good. The speakers included Avishek Gupta of Caspain, Aparna Dua of Asha Impact, Rahil Rangwala of MSDF, Kevin D'souza of <keyword id="790242" type="COMPANY" weightage="20" keywordseo="WhatsApp">WhatsApp</keyword> and Nataraj S. Kuntagod, Accenture, among many others. For the health sector, the chosen topics of discussion were Ayushman Bharat and Digital Health and procurement policies that can revolutionize the sector. The speakers included Varun Jhaveri of Ayushman Bharat, Kiran Anandampillai, National Health Authority, Garima Sahai, <keyword id="170241" type="COMPANY" weightage="20" keywordseo="Medtronic">Medtronic</keyword> Labs, among many others. Dr. Devi Shetty, Chairman and Founder, Narayana Health, advised the medtech entrepreneurs to have breakfast, lunch and dinner in the hospital with clinicians. It is said often but still not enough - you need to immerse yourself into the clinical workflow. Shaping the future of water footprint in agriculture and innovations in agri-supply chains to solve for agricultural losses were the topics covered in the discussion pertaining to the agriculture domain. The speakers included Reshma Anand Shivakumar of ITC, Rasika of Soulfull, <keyword id="80658" type="PERSON" weightage="20" keywordseo="Anil-Kumar">Anil Kumar</keyword> of Samunnati Finance, Hemendra Mathur of Bharat Innovation Fund, among 20+ others. As the event comes to its culmination, Paul Basil, Founder and CEO, Villgro, said, “Having successfully wrapped up the 10th edition of Unconvention, we cannot help but reflect upon this gratifying journey. We have come a long way and have empowered innumerable early-stage start-ups with seed funding and best-in-class mentoring, strategy-creating, GTM support, follow-on fundraising support. I would like to express my gratitude to everyone who has joined us on this journey and all those who are present here today. Thank you for your unwavering support that has allowed us to catalyse multiple generations of social entrepreneurs and create an ecosystem of unbridled growth for all aspiring entrepreneurs. Together, we have – and will continue to – change the world!” (Business Insider India is a digital media partner in the event)

With large-scale investments, insightful discussions and all-round innovation, Villgro wraps up Unconvention 2019

Winning streak for Aditya <keyword id="118437" type="CITY" weightage="80" keywordseo="Birla-group">Birla Group</keyword> continued as it yet again topped Neilsen’s Corporate Monitor (CIM) 2014-15 survey that measures reputation of leading companies in India. 
 While, the Birla conglomerate retained the top spot for three years in a row now, <keyword id="42747" type="CITY" weightage="60" keywordseo="Tata-Motors">Tata Motors</keyword> bagged the second spot, followed by ITC, <keyword id="6355975" type="CITY" weightage="60" keywordseo="Axis-Bank">Axis Bank</keyword> and Tata Steel. 
 
The survey, shared exclusively with Economic Times, was conducted across 42 companies with over 2,000 respondents in eight metros. 
 
"As a high-performance driven group, we are constantly focusing on building our talent pool to support our business vision. To this end, substantive initiatives taken earlier have since materialised. These include focused endeavours to build a robust talent pipeline; extending the employer brand of our group beyond India; achieving the distinction of becoming the most aspirational employer for professionals and augmenting talent on the technical side," Kumar Mangalam Birla, Chairman of Aditya Birla Group, told ET. 
 
This year, Axis Bank and Reliance Communication broke into the top-10 list. 
 
Some of the parameters for the survey were trust, transparency, demonstration of vision and leadership, financial performance, perceptions of company product and services, workplace environment. 
 
While the Birla Group came up on top for vision and leadership, financial performance and operating style, Tata Steel bagged the top position on product and service quality and workplace management. 
 
"A strong corporate image is one that effectively communicates the company's brand and philosophy. In order to recruit top talent, a company needs to be able to project itself and provide a good idea of what it really represents," a Tata Motors spokesperson told the financial daily. 
 
Meanwhile, Executive Director of Nielsen India, Ajay Macaden, said this year they saw interesting trends. 
 
"With increasing awareness that both the consumer and company have about the concept of reputation, this year saw some interesting trends based on the study. Most of the companies that have made it to the top ten are very visible in the media and have high involvement among large set of stakeholders," said Ajay Macaden, executive director, Nielsen India. 
 
He added that an increasing focus on ad spends, communicating via technology and innovation have helped consumers spontaneously recall and talk about certain banking and finance sector companies, an improvement from last year. 
 
Meanwhile, ITC topped in corporate social responsibility. 
 
"Stakeholders, investors and consumers continue to look for quality and talent within the top companies in India. They have also upped the ante on judging companies on the basis of their CSR activities, with sanitation and healthcare education being of critical importance,” Macaden told ET.

Aditya Birla Group is reaching new heights. Here is how

<ul><li>As the number of Covid-19 cases keep going up in India, various brands and business tycoons have come ahead to donate to help the government in its drive to control the spread of the virus.</li><li>While many companies have created funds to contribute to the PM Cares Fund, a lot of other brands are contributing by donating sanitizers, masks and even food, to help those in the need.</li></ul>The world, as we knew it even till a month back, has changed. With the <keyword id="1754604" type="PERSON" weightage="20" keywordseo="coronavirus">Coronavirus</keyword> outbreak, our country, along with many other countries across the world has announced complete lockdown. The effects of this pandemic, both on the economy, and on human life, will be massive. At the time of writing this report, the number of positive cases in India crossed 1,050, and the death toll stands at 29. And the number is growing with each passing day. While governments across the globe are working tirelessly to come up with ways of minimizing the impact of this pandemic, we have seen many brands come forward, and contribute in different ways, to help out in these trying times. Since we are seeing a lot of brands come up with many initiatives almost every day, we will keep updating this space with the latest happenings. Tata Group: <keyword id="6360722" type="UNKNOWN" weightage="20" keywordseo="ratan-tata">Ratan Tata</keyword>, Chairman <keyword id="6383155" type="COMPANY" weightage="20" keywordseo="Tata-Trusts">Tata Trusts</keyword> and Chairman Emeritus Tata Sons, pledged Rs 500 crore to protect and empower all affected communities. The money will be spent on personal protective equipment for medical personnel, respiratory systems for treating increasing cases, testing kits to increase per capita testing, setting up modular treatment facilities for infected patients and knowledge management and training of health workers and the general public. <div type="twitter" handle="RNTata2000" handlename="Ratan N. Tata" image="http://pbs.twimg.com/profile_images/1189494401359208448/AwbXHtpn_normal.jpg" favoritecount="199569" retweetcount="59205" status="The COVID 19 crisis is one of the toughest challenges we will face as a race. The Tata Trusts and the Tata group co… https://t.co/GQ6H6sSFcF" createdat="1585392484000" id="1243852348637605888"></div> Mahindra Group: <keyword id="46425" type="PERSON" weightage="20" keywordseo="Anand-Mahindra">Anand Mahindra</keyword>, Chairman, Mahindra Group said he will donate 100% of his salary to create a fund to help small businesses and self-employed people who are expected to be impacted the most due to the outbreak. He also urged our businesses to also set aside contributions for those who are the hardest hit in their ecosystem. <div type="twitter" handle="anandmahindra" handlename="anand mahindra" image="http://pbs.twimg.com/profile_images/1053583782584807425/-7IRmY5u_normal.jpg" favoritecount="48372" retweetcount="13478" status="Going by various reports from epidemiologists, it is highly likely that India is already in Stage 3 of transmission… https://t.co/hBSwnUb9Vp" createdat="1584860752000" id="1241622104778268672"></div> ITC: ITC is setting up a Contingency Fund of Rs 150 crore to address and manage the challenges arising out of the Covid-19 outbreak. The fund will be utilised primarily to provide relief to the vulnerable and most needy sections of society who have been harshly impacted by the pandemic and have faced significant disruption in their livelihoods. Additionally, the fund will collaborate with District Authorities to provide assistance to the district health and rural healthcare eco-system that reaches out to the weakest sections of society. Furthermore, the brand added that the resources under this fund could also be channelised towards the protection and well-being of the ground forces doing commendable work to reach medicines, groceries, other essential goods, sourcing of agri-commodities and so on for people across the country during the lockdown, by providing protective personal gear and hygiene products to such frontline warriors. Reckitt Benckiser: Reckitt Benckiser has launched the RB Fight for Access Fund to improve access to health, hygiene and nutrition for all. As part of this fund, an additional £32 million has been mobilized to address the urgent collective fight against the spread of Covid-19 by breaking the chain of this fast-spreading infection. In India, the brand will be distributing 10 million units of Dettol Soap to the most vulnerable. RB will also be donating 1 million litres of its disinfectant products including Lizol disinfectant liquid and Harpic toilet cleaners to aid India’s states in fighting this crisis especially in public health institutions and at the frontline with health and sanitation workers. It will donate critical protection equipment, 3.5 million N95 masks with a focus on pharmacists and health care workers. These will be distributed across their major markets. Dettol is also partnering with Bollywood actress, Madhur Dixit to release an engaging public service announcement #ApniSurkashaApneHaath to encourage viewers to practice handwashing. Godrej Group: The Godrej Group announced that it is earmarking a fund of Rs 50 crore for community support and relief initiatives in India. This is an initial outlay and the corporate said that it hopes to supplement it over time. It has been buying and supplying medical equipment and protective supplies for the Brihanmumbai Municipal Corporation (BMC). As a part of the initiative, the group has donated Rs 5 crore to the BMC, donated 115 hospital beds to Maharashtra government hospitals and helped set up a 75-bed quarantine center at the Seven Hills Hospital. Moreover, it has supported the free distribution of 1 million packets of Godrej Protekt Mr. Magic powder-to-liquid hand wash in Maharashtra through partnership with the BMC and Thane Municipal Corporation (TMC), partnered with communities linked to their CSR programmes to support 1.12 lakh beneficiaries across 8 states with hand wash, sanitisers and soap, donated sanitisers to the Mumbai police force, begun ramping up capacity to meet the demand for soap, hand wash and sanitisers and initiated outreach through various networks and hand wash education programmes. Reliance Group: <keyword id="3820" type="PERSON" weightage="20" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword> has pledged to donate Rs 5 crore to Maharashtra Chief Minister’s Relief Fund. Led by Nita, Ambani Reliance Foundation has promised to provide a free meal to needy people across the country. Additionally, Ambani has also donated a hospital for the patients battling with infection of Covid-19 and will set up a dedicated 100-bed centre at Seven Hills Hospital in Mumbai, along with a fully-equipped isolation facility in Lodhivali, Maharashtra. Paytm: Paytm said that it is aiming to contribute ₹500 crore to the PM CARES Fund. For every contribution, or any other payment done by consumers on Paytm, the online payment app said it will contribute an extra up to ₹10. <div type="twitter" handle="Paytm" handlename="Paytm" image="http://pbs.twimg.com/profile_images/1242803598083395585/4cWZptzw_normal.jpg" favoritecount="9431" retweetcount="2966" status="Paytm is aiming to contribute ₹500 Crore to the PM CARES Fund. For every contribution, or any other payment done… https://t.co/JrSAJTnO1J" createdat="1585411759000" id="1243933194556248064"></div> PhonePe: PhonePe has launched a #100CrorePledge, urging 10 crore Indian citizens to donate to the PMCARES Fund to show their solidarity in fighting the menace of COVID-19. PhonePe has pledged to contribute Rs 10 for every Indian who donates even Rs 1 to the PMCARES Fund via the PhonePe App using UPI by April 30, 2020. In total, PhonePe has pledged to contribute a maximum of up to Rs 100 crore. <div type="twitter" handle="PhonePe_" handlename="PhonePe" image="http://pbs.twimg.com/profile_images/1228394203421372416/4X3QZazb_normal.jpg" favoritecount="834" retweetcount="306" status="Join our #100CrorePledge &amp; donate to the PMCARES FUND using contactless UPI payments. Remember no contribution is t… https://t.co/b6Z4yD3rMh" createdat="1585405072000" id="1243905146087542785"></div> Zomato: Along with announcing measures to help its partner restaurants, delivery staff, and other daily wage workers in India who are currently income-starved due to the lockdown, Zomato set up ‘Feeding India’, a fund to support families of the daily wage workers in India in the absence of employment opportunities. Known as ‘Feeding India’, the initiative has successfully received more than Rs 6 crore in funds. <div type="twitter" handle="deepigoyal" handlename="Deepinder Goyal" image="http://pbs.twimg.com/profile_images/980757579360972800/TWg-KSki_normal.jpg" favoritecount="1727" retweetcount="1399" status="Please help by donating to 'Feed the Daily Wager' by Zomato Feeding India (@FeedingIndia) and provide food support… https://t.co/8vQRliTLtM" createdat="1585054814000" id="1242436058748317697"></div> Parle: Parle, makers of the much loved Parle-G biscuits announced that it is joining hands with the government to give away 3 crore packets of Parle-G to people in need over the next 3 weeks. The brand made the announcement after PM Narendra Modi made an announcement of the country’s lockdown to prevent the spread of the virus. <div type="javascript" title="Instagram" contenttype="Image"><cdata><![CDATA[ ]]></cdata></div> Diageo: Diageo India, the liquor firm that sells McDowell’s whisky and Smirnoff vodka, will produce 3 lakh litres of hand sanitizers to help overcome its shortage in the country due to the Covid-19 outbreak. A stock exchange filing by the company stated that 15 of the liquor firm’s manufacturing units are being repurposed to manufacture hand sanitisers and donation of extra neutral alcohol (ENA). Kansai Nerolac: Kansai Nerolac Paints has announced that it will do an early disbursement of funds to its painter community falling under the Nerolac Premium Painter Pragati (NPP Pragati) Programme. Over 30,000 painters can benefit from Nerolac’s initiative, upto Rs 36,000 approximately. Mankind Pharma: Mankind Pharma has pledged to donate Rs 51 crore to CM Relief fund to manage the outbreak. The brand will be donating ventilators, Personal protective equipment (PPE) and medicines to the states reporting maximum number of positive cases. Mankind Pharma will be working closely with the Governments of Kerala, Maharashtra, UP, Uttrakhand, Bihar, Tamil Nadu, Karnataka, AP, Telangana, Delhi, Haryana, HP, Madhya Pradesh, Rajasthan, Gujarat, Punjab, West Bengal J&amp;K and Orrisa.

You Searched For "ITC on CSR" and got 12 results

Can you claim input tax credit on CSR expense ⁠— three authorities have two different rulings

Rounak Jain

OPINION: GST Input Tax Credit changes from January 1 – Things to ask your vendor, how to protect your ITC and more

Tushar

Geetika

How marketers are now focusing on CSR in current COVID-19 situation

Guest Author

ITC announces a ₹150 crore Covid-19 contingency fund

Sanchita Dash

CSR expenditure by cos listed on NSE up 18 pc to Rs 11,961 cr: Report

PTI

Would you believe Reliance tops corporate social spending this year!

BI India Bureau

Companies like HUL, P&G & PepsiCo going green for their own sake

BI India Bureau

Cloud kitchens are restaurants, ice cream is not food and other important clarifications that will affect GST rates

Rounak Jain

India’s auto stocks cheer after Parliamentary Panel agrees that they need more stimulus and the dealers need loans with less collateral

Navdeep Yadav

With large-scale investments, insightful discussions and all-round innovation, Villgro wraps up Unconvention 2019

BI India Bureau

Aditya Birla Group is reaching new heights. Here is how

BI India Bureau

How brands are contributing to the fight against Coronavirus

BI India Partner

Popular Keywords

Buying Guides