(a)On receipt of the application, the appropriate [Commercial Tax Officer or any other officer authorised by Commissioner in this behalf] [Substituted by Notification No. F-A-3-65-07-1-V (01), dated 3-1-2008.] shall grant a tax clearance certificate in Form 64 to the dealer or reject the application within one month from the date of receipt of the application. An application for a tax clearance certificate shall be rejected, if the dealer is cither in arrears of tax or has not furnished a return for any period.