e-1 form

Please advice for following regarding E-1 sales Please assume that seller is in Maharashtra hence MVAT rules can be applied.

1)To issue E-1 form whether it is mandatory to receive 'C' form within the given time limit i.e. end of the next quarter as per CST ?

2)Since E-1 form also to be issued before end of the next quarter, how it is possible when buyer does not submit 'C' form in time ?

3) Whether blank E-1 form can be issued to buyer before he submits the 'C' form ? Generally buyer holds 'C' form so that seller will issue E-1 form. 

4)If seller issues E-1 form to buyer what happens if buyer does not submit 'C' form to seller in time. In this case seller has to pay sales tax at local rate.whether E-1 form can be cancelled in this case?

5)whether seller is responsible to check LR copies (documents of sale in transit)before issuing E-1 form? In such case blank E-1 form can not be issued.

6)what is the penalty for non issuing or late issue of e-1 form ?