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Way Bill

Internal Audit 1323 views 2 replies

I need answer for the following questions:

1. Give a brief on What is a Way Bill ??? (From what I have researched, I understand that Way Bill is a Shipping document which is given by the consignor to the consignee specifying the details of goods dispatched)

2. A Company dispatches goods to one of its own Sites (another district or another city) where it manufactures a RO Plant. Is the company bound to file WAY BILL ???

3. A Company dispatches goods to the supplier for repairs. Is the company bound to file WAY BILL ???

4. What are the risks/ penalties/ if WAY BILL is not filed by the Company??

 

Thanks in advance.

Replies (2)

Way Bill is a Shipping document which is given by the consignor to the consignee specifying the details of goods dispatched.

if the sales tax authority dot find way bill...fine will be levied according to laws of the sales tax law.

Way bill is a document issued by the state govt. or the commissioner of commercial taxes.

Waybill will be applicable on the products on which VAT is applicable.

For further details refer VAT act of your state.


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