https://www.taxtmi.com/acts?id=24988 Every person who was a director of a private company is jointly and severally liable for tax, interest or penalty that cannot be recovered from the company for supplies in the relevant period, unless the director proves non-recovery cannot be attributed to gross neglect, misfeasance or breach of duty. If the private company converts into a public company and unrecoverable amounts arose while it was private and could not be recovered before conversion, that joint and several liability does not apply in respect of those amounts; personal penalties on directors remain unaffected. en-us Thu, 11 May 2017 11:44:32 +0530 Thu, 11 May 2017 12:10:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=24988 Every person who was a director of a private company is jointly and severally liable for tax, interest or penalty that cannot be recovered from the company for supplies in the relevant period, unless the director proves non-recovery cannot be attributed to gross neglect, misfeasance or breach of duty. If the private company converts into a public company and unrecoverable amounts arose while it was private and could not be recovered before conversion, that joint and several liability does not apply in respect of those amounts; personal penalties on directors remain unaffected. Act-Rules GST - States Thu, 11 May 2017 11:44:32 +0530 https://www.taxtmi.com/acts?id=24988