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Record keeping for excisable fuel and petroleum

Records you need to keep if your business holds an excise licence and deals in fuel and petroleum products.

Last updated 14 May 2023

Excise licence holder obligations

As an excise licence holder, you need to know general record keeping for business requirements, as well as those specific to your excise operations.

Keeping accurate and complete records will help you meet your tax obligations and manage your business and cash flow. It is also a legal requirement.

You need to:

  • keep the records required by your licence
  • keep the records for the period advised on your licence (generally 5 years)
  • make these records (and copies) available to us if we ask to see them.

If you cease to hold an excise licence, you must still keep all records of your previously-licensed activities for the period advised on your licence.

Records for excisable fuel and petroleum products

Examples of the types of records you need to keep for excisable fuel and petroleum products include:

  • invoices
  • records from SAP or other logistical software systems used
  • contracts for supply of fuel
  • delivery documentation
  • fuel measurement and reconciliation records
  • disposal receipts, hazardous waste disposal permissions.

Your records should include the following details of excisable goods:

  • goods used in manufacture
  • process of manufacture
  • quantity manufactured
  • quantity on hand or stored
  • storage details
  • sales or disposals
  • loss or wastage during or after manufacture
  • movement documents such as delivery, receipts and dispatch notices, including dates.

Records for excisable fuel products under an automatic remission

If you are supplying LPG with an automatic remission of the duty, you should keep copies of invoices. The invoices should include the following notice:

Not to be used, or supplied, for transport use. Penalties apply.'

The notice isn't required when the LPG is supplied in containers 210 kilograms or less, or to a residential premises and is not for business use.

You can contact us if you need further guidance or examples of appropriate records to meet the record-keeping requirements.