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A parliamentary committee has criticised the delay on part of the Finance Ministry for providing a clarification to the Insurance Regulatory Development Authority, which resulted in the non-collection of service tax from its service providers.
“The Committee are distressed to note that in this modern era of fast-paced developments, it took the Ministry fifteen long months to give clarification on a single query raised by the IRDA resulting in non-collection of service tax during this period,” the Public Accounts Committee said in a report titled ‘Avoidable Expenditure on Service Tax by Insurance Regulatory Development Authority’, which was tabled in the Lok Sabha on Thursday.
The delay happened in 2012, when the Congress-led United Progressive Alliance-II government was in place. The Committee also noted that despite receiving the clarification from the Finance Ministry that the IRDA was liable to pay service tax, there was a delay. In a separate report on the Indira Awaas Yojana, the Public Accounts Committee said that it was very disappointed that the scheme still lacked a proper basis for identification of target beneficiaries despite the scheme being launched in 1985. “Moreover, the fact that assessment has not been made about actual housing shortage in 14 States even after the scheme had been running for almost 30 years portrays a serious lapse and absence of planning and coordination with States by the Ministry (of Rural Development),” the report stated.
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