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.
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.
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.
CAclubindia
