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What is an ITC and how do I know if I have it?

 
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What is an ITC and how do I know if I have it?

As per CRA- ITCs is Input Tax Credit;

As a GST/HST registrant, you recover the GST/HST paid or payable on purchases and expenses related to your commercial activities by claiming input tax credits (ITCs).

You may be eligible to claim ITCs only to the extent that your purchases and expenses are for consumption, use, or supply in your commercial activities.

Click here to answer questions to determine if you qualify-