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Section 88(3) of the GST enactments makes directors of a private company in liquidation jointly and severally liable for unrecovered tax dues incurred during their tenure, unless they establish before the Commissioner that non-recovery was not caused by their gross neglect, misfeasance or breach of duty. The notes state that a director's later retirement from an associated partnership does not by itself prevent recovery from that firm's accounts where the person was a partner during the default period. They also address recovery from related entities: interchanged family management and formation of a subsequent company to avoid arrears may justify examination of whether the corporate veil should be lifted.
Section 88(3) of the GST enactments makes directors of a private company in liquidation jointly and severally liable for unrecovered tax dues incurred during their tenure, unless they establish before the Commissioner that non-recovery was not caused by their gross neglect, misfeasance or breach of duty. The notes state that a director's later retirement from an associated partnership does not by itself prevent recovery from that firm's accounts where the person was a partner during the default period. They also address recovery from related entities: interchanged family management and formation of a subsequent company to avoid arrears may justify examination of whether the corporate veil should be lifted.
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