Substantiating Your ITC Claim

Claiming input tax credits (ITC) can substantially reduce the GST/HST that you are required to remit to CRA. Ensuring you have met the documentary requirements to support your claim is essential. Upon audit, CRA could disallow claims of ITCs if supporting documents do not meet these requirements.

To ensure your ITC claim meets the requirements of paragraph 169(4)(a), your supporting documents must generally include the following as outlined in Input Tax Credit Information (GST/HST) Regulations section 3 before filing the return for the reporting period in which the ITC is claimed:

• Supplier’s name under which it does business;

• Date of invoice;

• Description of each supply sufficient to identify it;

• Total amount charged for all supplies;

• Amount of GST/HST charged on all supplies;

• Notation as to the GST/HST status of each supply when the invoice includes both taxable and exempt supplies;

• Supplier’s GST/HST number;

• Name of the recipient.

Further to the above documentary requirements, books and records must be maintained for a period of 6 years from the end of the latest year they relate to.

For more information, please contact info@gytdcpa.com or 1 844-GYTD-CPA

GYTDCPA.com-Substantiating Your ITC Claim

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