GST/HST Record Keeping Requirements
Complete guide to CRA record keeping requirements for GST/HST. Learn what documents to keep, how long to keep them, and how to stay audit-ready.
- Keep all GST/HST records for minimum 6 years
- Invoices must include specific information for ITC claims
- Digital records are acceptable if properly maintained
- Poor record keeping can result in denied ITC claims
Proper record keeping is essential for GST/HST compliance. CRA can deny your Input Tax Credits (ITCs) if you cannot produce proper documentation during an audit.
What Records to Keep
You must maintain records for all GST/HST collected and paid:
- Sales invoices issued to customers
- Purchase invoices from suppliers
- Contracts and agreements
- Bank statements and cancelled cheques
- Credit card statements
- Import/export documentation
Invoice Requirements
To claim ITCs, your purchase invoices must include:
Supplier name and GST/HST number, date, total amount, GST/HST charged (or statement that tax is included), and description of goods/services.
For purchases under $100, simplified invoices with less detail are acceptable.
For purchases $100-$500, buyer name is also required.
For purchases over $500, full invoice with terms of payment required.
How Long to Keep Records
CRA requires you to keep GST/HST records for 6 years from the end of the year they relate to.
If you file an objection or appeal, keep records until the matter is resolved plus one year.
Digital Record Keeping
Electronic records are acceptable if they:
- Are readable and accessible
- Can be provided to CRA on request
- Are backed up regularly
- Include all required information
Audit-Ready Tips
- Organize records by tax period
- Keep GST/HST returns with supporting documents
- Maintain a clear filing system (physical or digital)
- Reconcile GST/HST accounts monthly
Stay CRA Compliant
Tax Punjabi can help you set up a proper record keeping system. Contact us today!