02 August 2010
waybills are basically statutory forms, which are accompanied with the physical material under delivery and other relevant docs, during movement of materials in the course of interstate sale.These are available to eligible registered dealers in advance before making purchases and are handed over by buyer to vendor with the purchase order. Later, after gettingg delivery on the basis of support of waybills, buyer submits periodical VAT returns incorporating such interstate purchases and gets issued c-form in due course, which are passed on or handed over to vendor for his assessment purposes, to substantiate sales made to a registered dealer in the course of interstate transactions at a lower/concessional rate of 2%.
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