35. Remission of tax in case of loss due to natural calamities, etc.

(1) Subject to the provisions of sub-rule (2), the Commissioner may for sufficient reasons, remit the whole or any part of the tax payable in respect of any period by registered dealer if such dealer has suffered financially on account of natural calamity or extraordinary circumstances beyond his control.

(2) No remission of tax shall be made under this rule-

(a) except on application made in this behalf to the Commissioner by the registered dealer setting forth,-

(i) the details regarding extraordinary circumstances or, as the case may be, the natural calamity,

(ii) the exact amount of loss sustained by him,

(iii) the extent of relief prayed for and the reasons therefore, and

(iv) the details regarding realization of any claim prepared under any insurance or on receipt of any grant-in-aid,

(b) if the loss has been substantially mitigated by the realization of any claim preferred under any insurance or on receipt of any grant-in-aid.

(3) If the amount to be remitted under this rule exceeds fifty thousand rupees, the remission of excess shall not be made without the previous sanction of the Government.