The excess or less Input Tax Credit as provided under section 23 of the Act shall be compensated by the dealer by adjusting the amount of tax credit allowed to him in respect of the tax period subject to the condition :

(a) That all amounts allowed to the purchasers in respect of the goods returned by them to the dealer shall be deducted from the taxable turnover, provided that the goods are returned within a period of six months from the date of delivery of the goods and the accounts depict the date on which the goods were returned, the date on which the refund was made and the amount of such refund together with the details of credit notes issued as specified under sub-section(1) of Section 26;

(b) That all amounts recovered from the seller in respect of the goods returned to them by the dealer, when the goods are taxable shall be deducted from the taxable turnover, provided that the goods are returned within the period of six months from the date of delivery of the goods and the accounts depict the date on which the goods were returned, the date on which the refund was made and the amount of such refund;