29. Conditions for collection of tax. -

(1) A registered dealer shall collect the tax as prescribed under the Act, by issuing a Tax Invoice.

(2) No tax shall be collected on any transaction not liable to tax under the Act or at a rate exceeding the rate specified in section 14.

(3) Any amount collected as tax or purported to be tax, whether or not prescribed, shall become due for payment subject to other provisions of the Act and these rules.

(4) If any amount of tax collected in excess of the rate prescribed, such amount shall not be allowed for set off against the input tax credit.

(5) The dealer may refund the tax charged in excess in any tax period before the due date for filing of tax return for that tax period.