Same conduit for return

That's fine to do. Is the conduit metallic or not? Watch out for "single wire transformer rule" where conductors can heat up when singled out in metallic conduit. I had an ordeal in Oklahoma where I used 3 separate PVC runs in a UPS backup power system and the inspector threw a fit. He didn't understand that its perfectly fine to do in non-metallic pvc.
 
If there's only one switched conductor going to the disconnect, then yes. If it's both hots of a single phase 120/240, for example, then they could go in one conduit and return in another.
In the latter case, if those hots supply any L-N loads, the associated grounded conductor would also need to go in one conduit and return in the other.

Cheers, Wayne
 
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