Accounts maintenance requirement: registered persons must keep prescribed business records and face tax determination if supplies go unaccounted.

Registered persons must maintain, at the principal place of business, true and correct accounts of production, inward and outward supplies, stock, input tax credit, output tax and other prescribed particulars; accounts for multiple places must be kept at each place and may be maintained electronically. Warehouse operators and transporters must keep prescribed consignor and consignee records. The Commissioner may require additional documents or allow alternative recordkeeping; prescribed-turnover taxpayers must obtain an accountant audit and submit audited accounts and reconciliation. Failure to account permits tax determination as if supplies occurred.

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