Refund of excess tax

(1) Where the Commissioner is satisfied that tax has been paid on receipts which turn out to be bad debts, he may allow a reduction in the receipts in respect of the current period to the extent of such bad debts, tax. 94 Provided that if such bad debt is subsequently recovered the same shall be added to the receipts for the period in which such debt is recovered. (2) Every person or entity who proves to the satisfaction of the Commissioner that he has paid tax in excess of the amount which he or it is required to pay under this Part, having regard to the exemptions contained in paragraphs (a) and (b) of sub- section (1) of section 108 of this Act, shall be entitled to have the excess amount so paid refunded.