Government updated provisions related Corporate Social Responsibilities
Ministry of Corporate Affairs has amended the Companies (Corporate Social Responsibilities Policy Rules), 2014 to enhance the scope of CSR activities to include eligible Corporate efforts against COVID-19, to put timeline for completion of projects under CSR, registration requirement for implementing agencies, provisions of Annual Report on CSR Activities and Impact assessment by certain companies etc. among others.
MCA had also issued a clarification, by circular dated 13th January, 2021, regarding eligibility of spending on public awareness campaigns or programs on COVID-19 Vaccination as CSR activity under the provisions of Schedule VII of Companies Act. These activities will be covered under Promotion of Health, Sanitization, Disaster Management etc.
