Amendment status not verified — confirm the current text below against the official source.
Where any purchaser, being a registered dealer, has been issued with a credit note or debit note in terms of sub-section (1) of section 20 or if her returns or rejects goods purchased as a consequence of which the input tax credit availed by him in any period in respect of which the purchase of goods relates becomes less or excess, he shall compensate such less credit or excess credit by adjusting the amount of tax credit allowed to him in respect of the tax period in which the credit note has been issued or goods are returned subject to conditions as may be prescribed.