I am planning to create a yearly subscription package. Those who subscribe in promotional period i.e November 2021 they will get access to premium content with the price of £48 for the whole year. But if they subscribe after the the promotional period they will be charged £96 for the whole year. Is it possible to configure this in google play subscription ?
Yes you can it is called Introductory price :
You can offer new subscribers a discounted price for a specific duration. If you do, this must be within the accepted price range and cost less per day than the original price.
Of cores you can stop Introductory prices any time manually.