129. Manner of issue of clearance certificate to a dealer or person. –

(1) Where a dealer requires a clearance certificate under section 99 such dealer shall make an application in duplicate in Form VAT-611, duly verified and signed by him, to the assessing authority.

(2) If the assessing authority, referred to in sub-rule (1), is satisfied that the application is in order and particulars furnished therein are correct, such authority shall, within one week from the date of receipt of such application, issue to such dealer a clearance certificate in Form VAT-612.

(3) A clearance certificate issued under sub-rule (2) shall remain valid till the end of the year during which the certificate is issued and the period of validity shall be specified in that certificate.

(4) A copy of the clearance certificate so issued shall be retained by the assessing authority for his record.

(5) Where the assessing authority does not issue a clearance certificate to a dealer under sub-rule (2), such authority shall, after giving the dealer an opportunity of being heard, reject his application within fifteen days from the date of receipt of such application for reasons recorded thereof and intimate him in writing accordingly.