THERE ARE TWO FIRMS SAY A & B BOTH HAVE THE SAME PROPERTIOR, A PURCHASES THE GOODS AND TRF IT TO B, B THEN SELLS THE GOODS HOW THIS WOULD BE RECORDED IN THE BOOKS OF ACCOUNTS IN CASE OF VAT AUDIT UNDER FOLLOWING SITUATION
1. CONSOLIDATED P& L AND B/S ARE PREPARED OF BOTH THE FIRMS
2. SEPERATE P&L AND B/S ARE PREPARED OF BOTH THE FIRMS
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