Accounts and records requirement mandates registered persons to maintain detailed transactional and stock records and permits audit and officer determination. Every registered person must maintain at the principal place of business true and correct accounts and records of production, inward and outward supplies, stock, input tax credit, and output tax, with accounts for multiple places kept at those places and electronic maintenance permitted as prescribed. Warehouse operators, storage owners and transporters must keep prescribed consigner, consignee and goods details. The Commissioner may require additional accounts or permit alternative recordkeeping for specified classes. Specified turnover thresholds trigger mandatory audit and submission of audited accounts and reconciliation statements. Failure to account permits the proper officer to determine tax on unaccounted supplies, applying the relevant tax determination provisions.