For the accounts of two concern one is Pvt Ltd Company and other is Properietary Concern,under same ownership i.e. Sister Concerns mantains common invetory godown. On the ocassion of transfer of the stock in case of stock out situation in either of the concern .....Can same be regarded as deemed purchase or sale of the other concern and vice versa???????
What accounting effect can be there ? both concern filing return under 44AB in such situation should the charge VAT at the time of sale or transfer to either of the concern??????
CAclubindia
