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of <h1>Section 88: Liquidator's Duty in Tax Recovery; Directors' Liability if Company Fails to Pay Under Rule 160.</h1> Section 88 outlines the liability for tax recovery when a company is in liquidation. The liquidator must inform the Commissioner of their appointment within 30 days. The Commissioner then has three months to notify the liquidator of any tax, interest, or penalty due. If the company fails to pay, directors of a private company are jointly and severally liable unless they prove non-recovery was not due to their neglect or breach of duty. Rule 160 mandates the Commissioner to notify the liquidator for recovery using FORM GST DRC-24.
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