23. Terms and conditions subject to which exemption to any dealer from furnishing returns may be granted -

(1) A registered dealer required to furnish quarterly returns under clause (a) of sub-rule (2) of rule 20 may make an application in form 19 for exemption from furnishing of quarterly returns to the Commissioner so as to reach him not later than thirty days of the commencement of the year for which the exemption is applied for, and if the Commissioner is satisfied that the dealer who is not a manufacturer or an importer, is not likely to make any taxable purchases or sales during the year, he may grant him an exemption certificate in form 20 for that year.

(2) The exemption granted under sub-rule (1) shall be subject to the following terms and conditions, namely,-

(i) If the registered dealer makes during the period of exemption any sale or purchase which is taxable, he shall, within fifteen days from the date of such sale or purchase give information thereof to the appropriate Commercial Tax Officer.

(ii) The registered dealer shall furnish the returns by the date and in the manner prescribed under these rules, beginning with the period commencing with the quarter during which the sale or purchase aforesaid takes place.

(3) An exemption certificate granted under sub-rule (1) may, on an application made in form 19 by the dealer in this behalf, one month before the date of expiry of the period of exemption be renewed for one year at a time.

(4) The Commissioner may, after giving the dealer a reasonable opportunity of being heard, and for reasons to be recorded in writing cancel any exemption certificate for good cause.