Dear Members
Help me out with the following query
A sold goods to B
A is supplier of raw materials
B is engaged in construction business
A filed GST returns and discharged tax liability
and B claimed ITC
A sold 1 lakh per month to B, which is 12 Lakhs per year
but instead of paying 12 lakhs to bank account they have both agreed that B will register flat on the name of A
Is this legal as per books
how should we record this transaction
what steps we should take to avoid 180 days ITC conflict
Please suggest based on your experience
CAclubindia
