(1) After an order of assessment is passed by the appropriate assessing authority or the appropriate auditing authority, as the case may be, under rule 57 or rule 58 in respect of a dealer, such authority shall serve subject to the proviso to this sub-rule, a notice in Form No.27 on such dealer directing him to make payment of the amount of tax and penalty, if any, due from such dealer by such date as may be specified in such notice:

Provided that if the dealer, in accordance with the provisions of clause (b), clause (a) or clause (c) of sub-section (1) of section 118, is eligible for exemption, or deferment, or remission of payment of tax due after assessment, the appropriate assessing authority or the appropriate auditing authority, shall serve, after an order of assessment is passed under section 46, a notice in Form No. 27A on such dealer directing him to make payment of the amount of tax and penalty, if any, due from such dealer by such date as may be specified in such notice and shall specify in such notice the amount of tax payable which is exempt or eligible for deferment or remission under clause (b), clause (a) or clause (c) of sub-section (1) of section 118, as the case may be, and the date on which the amount of such deferred tax shall be paid by such dealer in accordance with the provisions of clause (a) of sub-section (1) of section 116 or clause (a) of sub-section (1) of section 118, as the case may be.

(2) The date to be specified for payment by a dealer in the notice referred to in sub-rule (1) shall not be less than thirty days from the date of service of the notice:

Provided that, where on account of delay in service of the notice in Form No. 27 or Form No. 27A the dealer is denied of the minimum time of thirty days for compliance with such notice, the notice will not become invalid but the dealer may, on application filed within ten days from the date of receipt of such notice, be allowed such further time as falls short of thirty days from the date of service of such notice.

(3) The notice referred to in sub-rule (2) shall also specify the date by which a dealer shall produce a receipted copy of challan of appropriate Government Treasury as a proof of payment of net tax and penalty, if any, made according to such notice.

(4) If after an order of assessment made under rule 57 or rule 58 in respect of a dealer, the amount of net tax, penalty, interest or late fee payable is found to be less than the amount paid by such dealer in respect of the same period, the appropriate assessing authority shall.-

(a) serve upon the dealer a notice in Form No. 27 or in Form 27A, as the case may be, specifying the amount of excess, unadjusted net tax credit, or the amount paid in excess, and the adjustment, if any, of the amount assessed to have been paid in excess with the tax, penalty, interest or late fee due from such dealer in respect of any other period which remains unpaid by such dealer till the date of assessment; and

(b) Subject to the provisions of section 62, send to the dealer a Refund Adjustment Order, thereby authorising the dealer to adjust the amount specified therein against the amount payable according to the return which falls due subsequent to the date of receipt of the Refund Adjustment Order by the dealer:

Provided that if the amount of refund exceeds rupees twenty thousand, the appropriate assessing authority shall, before issue of Refund Adjustment Order, obtain prior approval of the Commissioner or such other authority as may be authorised by the Commissioner.

(5) A refund under sub-rule (4) to a registered dealer shall ordinarily be made through Refund Adjustment order:

Provided that where a dealer makes an application any time but ordinarily not later than thirty days from the date of receipt of the Refund Adjustment Order, for payment of the refundable amount otherwise than by way of Refund Adjustment Order on the ground that there shall be no such amount of tax payable by him against which the refundable amount may be adjusted and if the appropriate assessing authority or the appropriate auditing authority, as the case may be, is satisfied to that effect, the said authority may refund the said amount to the dealer accordingly by Refund Payment order (Cash) or by cheque.

Provided further that refund by Refund Payment Order (Cash), or by cheque, shall also be made when there is a permanent closure of business.

(6) The refund, thus made under section 62, shall be entered into a refund register in Form no. 41.