How to shift from 01/2011 to 01/2012 in centeral excise

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This query is : Resolved

P. Venkata sai Mahendra (Querist)

06 January 2016 Dear all,

I think you all know that

01/2011 stands for the rate of excise duty with out input tax credit i.e 2% (1st scheme)

whereas 02/2011 stands for the rate of excise duty with input credit i.e 6% (2nd scheme).

Now my question is if a person following the first scheme want to shift to second scheme. Can he shift like that. If possible, Please tell me the procedure also.

Please reply as soon as possible. it is urgent.

ANIL JANGID

ANIL JANGID (Expert)

07 January 2016 if you opted 6% scheme, permanently adopt this scheme you can not swip 2% again, so please see how much input credit you get,if input credit less you should continue 2% scheme.

P. Venkata sai Mahendra

P. Venkata sai Mahendra (Querist)

13 January 2016 Sir, Eg : First I opted 1st scheme ( i.e 6% with input tax credit ) whereas i want to convert to 2nd scheme i.e 2nd scheme ( i.e 2% with out input tax credit ). Because i thought that it is useful to me. In this case can i shift from one scheme to another scheme. If possible, then how to shift. Please tell me answer with supporting data. I am waiting for your reply. I am unable get clarity with above answer.

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