Accounts and Records obligations require registered persons to maintain detailed business and tax records and permit audits.

Registered persons must maintain accurate accounts at their principal place of business covering production, supplies, stock, input tax credit and output tax; records for additional places or electronic records may be prescribed. Warehouse operators and transporters must keep consignor/consignee details. The Commissioner can mandate extra documents for classes of taxpayers or permit alternative methods. Turnover-above-threshold taxpayers must obtain statutory audits and submit audited accounts and reconciliation statements. Failure to account for supplies permits the proper officer to determine tax on unaccounted supplies and apply the Act's tax determination procedures.

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