The concept of CSR has become gradually essential among business communities for their long run existence and improved credibility. It has become more important because organizations have realized that for remarkable growth, a trustworthy and sustainable relationship is required with society.  CSRD is a vital step which increases long term profitability with social justice. But development of CSRD is very slow in developing Asian countries as compared to developed western countries. This paper reviewed the literature based on CSRD practices at two levels – at global level and at national level (in context of India). Most of the research work is based on annual reports and a few on CSR reports of companies to measure the extent of CSR disclosures. It is observed that CSRD practices are affected with various factors like company’s age, size, profitability, corporate governance structure, ownership structure, board size, indebtedness, market sentiments, quality of corporate environmental disclosures, etc. Good financial performance, good governance practices, high profitability and large size of firms have positive impact on social and environmental disclosure.