(1)The certificate of exemption once granted under rule 10 or 12, shall remain valid for the period specified in such certificate, unless it is rectified, revoked or cancelled earlier or the business is discontinued.(2)Where under a notification, a certificate of exemption is issued on the condition of payment of an annual fee, it shall continue to be valid or subsequent years if such fee is paid within a period of three months from the commencement of the relevant assessment year and if such exemption is not otherwise withdrawn.(3)Where a fee for certificate of exemption is not paid within the prescribed time, the certificate of exemption may not be cancelled in case the dealer-(a)pays the exemption fee with penalty equal to double the amount of such fee; and(b)pays the amount of tax, where such tax has been collected or charged by him for the assessment year for which the fee was required to be paid.
