What is an input tax credit (ITC)?

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An ITC lets GST/HST registrants recover the GST/HST paid on business purchases. Keep receipts showing the supplier's GST/HST number to support every claim. Meet the eligibility conditions An input tax credit generally relates to GST/HST paid or payable on purchases used in commercial activities by a registrant. Personal use, exempt activities and restricted expenses can limit a claim. The required invoice details depend on the amount and circumstances; a supplier's number alone may not be enough. Document the business use Keep the invoice, supplier information, description, tax amount and evidence of how the purchase is used. Allocate mixed-use costs on a supportable basis and check current claim time limits. Reconcile the ITC calculation to your ledger before filing, and have unusual or large purchases reviewed by your tax adviser.

What is an input tax credit (ITC)?

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Meet the eligibility conditions

Document the business use

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