(1) Any person from whom the amount was collected in contravention of the provision in sub-section (2) or sub-section (3) shall be allowed reimbursement of any amount forfeited to Government under sub-section (1) of Section 46A subject to the following conditions, namely:-

(a) he furnishes a statement in Form 40 duly filled up and certified by the dealer who realised the excess or illegal tax;

(b) he furnishes along with the said statement in Form 40, the original of the bill or bills evidencing such collection;

(c) the statement in Form 40 shall be submitted to the assessing authority which ordered forfeiture of the illegal or excess collection within a period of 3 years from the date on which the order of forfeiture was passed under Sub-section (1) of Section 46A.

(2) If the assessing authority which forfeited the amount is satisfied that the statement submitted is correct and complete, it shall refund the amount within ninety days of receipt of the statement in Form 40, as provided in rule 67.