TaxTMI 
TaxTMI 
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.
How to shift from 01/2011 to 01/2012 in centeral excise.
06 Jan 2016 
2 Replies 
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Excise duty scheme choice must be made at start of financial year; intra-year changes not permitted.
A taxpayer asked whether an assessee using the lower-rate excise option without input tax credit may shift to the higher-rate option with input credit. The recorded reply advises that election of a scheme must be made at the beginning of the financial year and cannot be changed during that year; no procedural steps were supplied in the replies. (AI Summary)
A taxpayer asked whether an assessee using the lower-rate excise option without input tax credit may shift to the higher-rate option with input credit. The recorded reply advises that election of a scheme must be made at the beginning of the financial year and cannot be changed during that year; no procedural steps were supplied in the replies. (AI Summary)
