Record Keeping: GST/HST records

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You are required to keep GST/HST information in your records if:
• You are carrying on a business or engaged in a commercial activity in Canada
• You have to file a GST/HST return
• You are applying for a GST/HST rebate
• You are applying for a GST/HST refund

If you file a GST/HST return, you must have records that describe the related goods and services in enough detail to determine if the GST/HST applies to them.

Ensure that your records can provide you with accurate information to:
• Calculate the amount of GST/HST you have to pay or collect
• Calculate the amount of GST/HST to be refunded, rebated or deducted from your net tax.

If you claim an input tax credit or ITC for the GST/HST charged on your business-related purchases, you must keep copies of your purchase invoices or receipts in your records. These invoices and receipts must include specific information to support your claims for ITCs or rebates. For more information, you can go to Records you need to support your claim.

Source: https://www.canada.ca/en/revenue-agency.html

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