In terms of economy, what is the full form of ITC?

mediumMCQGovernment Exams2026Economics

1 mark

In terms of economy, what is the full form of ITC?

Solution & Step-by-step Explanation

In economics and taxation (especially under the Goods and Services Tax / GST regime), ITC stands for Input Tax Credit. It allows a business to reduce the tax it has already paid on inputs from the tax it has to pay on output.

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In terms of economy, what is the full form of ITC?

A

International Tax Company

B

Internal Trade Commerce

C

Internal Tax Commerce

D

Input Tax Credit

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