23 (1) In case of a dealer, other than a dealer referred to in sub-rule (1) of rule 22, amount of reverse input tax credit, in respect of any quantity or measure of any goods-
(a) held by the dealer in stock as referred to in subrule (4) of rule 22 in the same form and condition in which they were purchased; or
(b) used, consumed, disposed of or dispossessed, in the same form and condition in which they were purchased, in a manner in which he either is not entitled to claim any amount of input tax credit or is entitled to claim input tax credit of an amount which is lesser than the amount of input tax; or
(c) consigned by the trader outside the State otherwise than by reason of an inter-State sale, shall be computed in accordance with provisions of various sub-rules of rule 22, as may be applicable.
(2) Where a dealer has used or consumed any quantity or measure of any goods in manufacture or processing of any other goods or in packing of such goods but he has used, consumed, disposed of or dispossessed in a manner in which he either is not entitled to claim any amount of input tax credit or is entitled to claim input tax credit of an amount which is lesser than the amount of input tax, for the purpose of computing amount of reverse input tax credit, the dealer shall compute the quantity or measure of all goods used or consumed in manufacture, processing or packing of goods and thereafter, he shall compute amount of reverse input tax credit for the quantity or measure of all such goods used or consumed in accordance with sub-rule (1) or sub-rule (2) of rule 22, as may be applicable.
(3) Where a dealer has used or consumed any quantity or measure of any goods in manufacture or processing of any semi-finished goods or in manufacture, processing or packing of any manufactured or processed goods and such semi-finished or finished goods are held in stock on any date, he shall compute amount of reverse input tax credit for the quantity or measure of all such goods used or consumed in manufacture or processing or packing of such semi-finished or finished goods in accordance with sub-rule (1) or sub-rule (2) of rule 22, as may be applicable.
(4) For the purpose of computing amount of reverse input tax credit in respect of any manufactured or processed goods, it shall be deemed that goods used or consumed in manufacture, processing or packing of such manufactured or processed goods have been disposed of or dispossessed in the manner in which the manufactured or processed goods have been disposed of or dispossessed and in the like manner, for the purpose of computing amount of reverse input tax credit in respect of any semi-finished or finished goods held by the dealer in stock, it shall be deemed that goods used or consumed in manufacture, processing or packing of such semi-finished or finished goods, as the case may be, are held by the dealer in stock in the same form and condition in which those were purchased.
(5) Amount of reverse input tax credit in respect of any semi-finished goods or finished goods shall be the aggregate of amounts of reverse input tax credit in respect of goods used or consumed in manufacture, processing or packing of such semi-finished or finished goods, as the case may be.