Cancellation of Stock Transfer

I am using Dynamics Axapta 4.0 with India Localisation. I want to check the possibility of reversing or cancelling a Stock Transfer once it is in the stage Shipped. It should bring back the stock with the correct reverse effects in the excise registers also.

Please help me on this.

No you have to receive it and then ship and receive it back, the system does not allow a negative ship now on transfer orders - once it has gone, it has gone.