https://www.taxtmi.com/acts?id=27540 Directors of a private company are jointly and severally liable for tax, interest or penalty that cannot be recovered in respect of supplies made during periods they served as directors, unless they prove non-recovery was not due to gross neglect, misfeasance or breach of duty. If the private company converts into a public company, that joint and several liability does not apply to former private-company directors for amounts unrecovered before conversion, except that personal penalties on such directors remain unaffected. en-us Sat, 24 Jun 2017 12:28:44 +0530 Tue, 25 Jul 2017 15:04:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=27540 Directors of a private company are jointly and severally liable for tax, interest or penalty that cannot be recovered in respect of supplies made during periods they served as directors, unless they prove non-recovery was not due to gross neglect, misfeasance or breach of duty. If the private company converts into a public company, that joint and several liability does not apply to former private-company directors for amounts unrecovered before conversion, except that personal penalties on such directors remain unaffected. Act-Rules GST - States Sat, 24 Jun 2017 12:28:44 +0530 https://www.taxtmi.com/acts?id=27540