(3)(a)Subject to the provisions of section 31, where a registered dealer closes down or discontinues his business and the net tax payable as a result of such closure or discontinuance of business, after taking into account the closing stock, is a negative value, the dealer shall make an application for refund to the assessing authority in such form and within such time as may be prescribed.(b)Any refund covered under clause (a) shall be granted in such manner and subject to such conditions and restrictions as may be prescribed.
