Accounts and records obligations require registered persons to maintain specified business accounts; failure triggers tax determination.

Registered persons must keep true and correct accounts at their principal place of business covering production, inward and outward supplies, stock, input tax credit, output tax and other prescribed particulars; accounts for each specified place must be kept at that place and may be maintained electronically. Warehouse operators and transporters must maintain prescribed consignor, consignee and relevant records. The Commissioner may require additional accounts or permit alternative maintenance for classes of taxpayers. Turnover-above-limit persons must obtain statutory audit and submit audited accounts and reconciliation; failure to account triggers tax determination as if supplies were made, with relevant tax-determination provisions applying.

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