New Delhi: As announced by the Union Finance Minister, Shri Pranab Mukherjee in his Budget speech, a Study Team has been set-up by the Government, under the leadership of Shri. M. K. Gupta to examine the possibility of a common tax code for service tax and central excise, which could be adopted to harmonize the two legislations.
Shri M K Gupta, a retired IRS officer, is a former vice-Chairman of the Customs and Central Excise Settlement Commission. As part of its efforts, the Study Team will interact with various chambers of commerce and industry and recognized business and industry associations representing various segments of the services and manufacturing sector, as may be required. Government has directed the Study Team to submit its report by the 30th of September, 2012.