"(1) The claim of refund under sub-section (2-a) of section 57 shall be made through electronic mode in Form VAT-320A to the assessing authority within four months from the date of expiry of a period of one year to which the amount relates.

(2) Where refund is claimed under sub-rule (1), the excess tax credit shall be reduced by the amount of refund claimed, in the return filed for the tax period to which the same relates.

(3) On receipt of application electronically, the assessing authority shall refer the case for audit under sub-section (2) of section 41 to determine the admissibility of the claim of refund and the claim of refund shall be subject to result of such audit.

(4) The audit report shall be submitted to the assessing authority within 30 working days:

Provided that in the event of a tax audit already conducted under section 41, the tax period covered under such audit will be excluded from the purview of audit referred to in this rule.

(5) If there is no adverse finding in the audit, the assessing authority may sanction refund on the basis of the Audit Visit Report and the amount sanctioned for refund and shall be paid under sub-rules (2) and (3) of rule 64.