john (LEARNER) (549 Points)
09 May 2010If A, B & C are in the same line of business, and in case of shortage of stock can they transfer stock to each other under mutual understanding, on cost or below cost.
if yes, will they have to sell goods to each-other showing tax invoice.
wt are the necessary requirements in such transaction.
Amir
(Learner)
(4016 Points)
Replied 10 May 2010
Dear John,
One is free to sell his goods at whatever price he wants....So they can sell goods at a price which is lower then its cost or even at free of cost..no issues in that....
I think Yes goods willl be transferred under an invoice.....
CAclubindia
