Input Tax Credit (ITC) refers to the tax paid by a registered business on purchases of goods or services that can be adjusted against its output tax liability. In simple terms, it prevents the cascading effect of taxes and ensures that tax is paid only on the value addition at each stage of supply. https://corpzoventuresprivatelimited.wordpress.com/2026/02/12/latest-amendments-in-october-on-gst-input-tax-credit-itc/