last semester back student can also apply for tiss net exam

Mostly no. The provisional application might stand cancelled. But it may differ on a case to case basis and how fast can a student clear the concerned paper. The admissions office takes a decision on this. I suggest that you have a talk with them to clear your doubt.

Candidates who have been declared as failed in the final year examination are not eligible to apply for any of the Master's Degree Programmes of the Institute, unless they pass their Bachelor's Degree examination on the day of applying for any of the programmes.