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Rule 20

A dealer, whose registration is cancelled in accordance with the above rules, and where deductions were made for the tax paid on inputs on all the taxable goods in his possession, shall be treated as if he had sold such goods, and the sale of these taxable goods shall be deemed to have been completed on the effective date of the cancellation of the dealer’s registration and in exchange for the equivalent of the prevailing market price of the goods on such date.