Where a dealer enjoying deferment of payment of tax under clause (a), or tax holiday under clause (b), or remission of payment of tax under clause (c), of sub-section (1) of section 118, exercises option under sub-section (8A) of section 22 seeking refund of seventy five per centum of the accumulated input tax credit or input tax rebate in respect of any quarter of a year, such refund shall be given to him without making any prior assessment subject to the provision of sub-rule (2).

(2) The dealer referred to in sub-rule (I), shall, after submission of return under the Act and under the Central Sales Tax Act, 1956 (74 of 1956), make an application in Form 33 to the Commissioner within one month from the date of such submission of return for refund of seventy five per centum of the accumulated input tax credit or input tax rebate arising during the quarter of any year:

Provided that where such dealer referred to above also makes sales in the course of export out of the territory of India within the meaning of sub-section (1) of section 5 of the Central Sales Tax Act, 1956 (74 of 1956), he shall submit Form No. 33 along with the necessary Forms as stated in sub-rule (2) of rule 76.

(3) The provisions of sub-rule (3), sub-rule (4), sub-rule (5), sub-rule (6) and sub-rule (7) of rule 76 shall apply mutatis mutandis to the dealers seeking refund of input tax credit or input tax rebate under sub-section (8A) of section 22.