Section 12(1) in Punjab General Sales Tax Act, 1948
(1)The assessing authority shall in the prescribed manner refund to a registered dealer applying in this behalf any amount of tax, interest or penalty paid by such dealer under this Act :(a)if the amount of tax, penalty or interest so paid is in excess of the amount due from him under this Act; or(b)if the amount of tax so paid is in respect of the sale or purchase of any declared goods and such goods are sold in the course of inter-State trade or commerce;either by a refund voucher or, at the option of the dealer, by adjustment of the amount so paid with the amount due from him, in respect of any other period :Provided that the refund under clause (b) shall be subject to such conditions, as may be prescribed :Provided further that no refund under this section shall be allowed unless the claim for refund is made within a period of three years from the date on which such claim accrues.Explanation. - For the purposes of this sub-section the expression "in the course of inter-State trade or commerce" shall have the meaning assigned to it by section 3 of the Central Sales Tax Act, 1956.
