(5)A dealer to whom a certificate of composition of tax in Form VAT - XIV has been granted if found covered any time during the year under any of the contingencies as stated in sub-rule (2) above, such certificate shall stand withdrawn from the date of such contingency.The input tax credit on the stock held by the dealer on the date of such withdrawal shall be allowed to him in accordance with the provisions of sub-rule (1) of rule 7 of these rules.
