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

[Anil Jangid]

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.

Posts / Replies

[MARIAPPAN GOVINDARAJAN]

Do you mean 01/2011 and 02/2011 are the notifications of Central Excise?

[Anil Jangid]

yes notification

[Rajagopalan Ranganathan]

Sir,

Both Notifications do not stipulate any condition that option to avail these Notification shall be filed with the Department and once the option is exercised it cannot be changed during the Financial Year in which such option was exercised. Therefore you can switch over from one Notification to other at any you wish to change provided you comply with the conditions stipulated in Notification No. 1/2011. No conditions stipulated in respect of Notification No. 2/2011.

[KASTURI SETHI]

This is a repeat question. Why again ???

[Ganeshan Kalyani]

Please share the issue id. Also the queriest can find the intended query to find in search option first. This will help them to get instant reference.