Section 35 - Accounts and other records.

Accounts and records obligations require comprehensive GST recordkeeping, audit and tax determination for unaccounted supplies.

Registered persons must maintain accurate accounts at their principal place of business recording production, inward and outward supplies, stock, input tax credit, output tax and other prescribed particulars; multiple business locations require accounts at each place and electronic maintenance is permitted as prescribed. Warehouse operators and transporters must keep consignor and consignee records. The Commissioner may require additional documents or permit alternate record-keeping for specified classes. Persons above the prescribed turnover must obtain statutory audit and submit audited accounts and reconciliation statements. Failure to account for supplies permits the proper officer to determine tax on unaccounted supplies and apply tax determination and recovery provisions.