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

[Anil Jangid]

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.

AI Summary

Switching Excise Duty Scheme: Transition from 2% No Credit to 6% With Credit Only at Fiscal Year Start A user inquired about shifting from the 01/2011 excise duty scheme, which involves a 2% rate without input tax credit, to the 02/2011 scheme, which offers a 6% rate with input credit. They sought guidance on whether such a transition is possible and the procedure involved. One respondent indicated that the scheme can only be selected at the beginning of a financial year and cannot be changed mid-year. Another respondent requested more details about the schemes.