The shareholders cannot take every decision for the company so they appoint the board of directors as their representatives and auditors for their satisfaction that conduct of the company is fairly managed by the directors. Board of directors are responsible for all the activities conducted in the organization. The purpose of corporate governance is to facilitate the interest of stakeholders and ensure effective running of the organization without any hindrances. Also, the way a company carries its business activities impacts the society and the environment at large. Thus, Corporate Social Responsibility, in general, aims to think beyond the profitability of a company but to realize their duty and obligations for society. This paper attempts to study how the two concepts CSR & CG impact the firm’s performance and then how the two impact each other.