What Is Input Tax Credit? A Plain-Language Guide

Input tax credit lets you set off the GST you paid on purchases against the GST you collect on sales. This guide explains who can claim it, the conditions, and the common reasons it gets blocked.

ITC is the mechanism that stops tax being charged on tax.

To claim it you need a valid tax invoice, the goods or services must be received, the supplier must have paid the tax, and the return must be filed.

Topics:input tax creditITC meaningGST basicsITC conditionsblocked credit

Back to all GST updates