An input tax credit lets a GST/HST registrant recover tax paid on business purchases. Here’s how ITCs work and how they relate to QST’s ITR.
An input tax credit generally allows a GST/HST registrant to recover GST/HST paid or payable on eligible purchases and expenses used in commercial activities.
An input tax refund is the Québec term for recovering eligible QST paid or payable on purchases and expenses used in commercial activities.
A small supplier is generally a person whose worldwide taxable supplies, including zero-rated supplies, do not exceed $30,000 in a single calendar quarter or over the previous four consecutive calendar quarters. Exceptions and special rules apply.
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