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ITC was incorporated on August 24, 1910 under the name Imperial Tobacco Company of India Limited. As the Company's ownership progressively Indianised, the name of the Company was changed from Imperial Tobacco Company of India Limited to India Tobacco Company Limited in 1970 and then to I.T.C. Limited in 1974.
The meaning of ITC can be easily understood when we take the words 'input' and 'tax credit'. Inputs are materials or services that a manufacturer purchase in order to manufacture his product or services which is his output.