https://www.taxtmi.com/acts?id=27869 Directors of a private company are jointly and severally liable for unpaid tax, interest or penalty where recovery from the company is not possible, unless a director proves that the non-recovery is not attributable to his gross neglect, misfeasance or breach of duty. On conversion of a private company into a public company, that joint and several liability does not apply to persons who were directors during the private-company period for the unrecovered amounts, but the exclusion does not affect any personal penalty imposed on a director. en-us Mon, 26 Jun 2017 15:30:45 +0530 Tue, 27 Jun 2017 14:51:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=27869 Directors of a private company are jointly and severally liable for unpaid tax, interest or penalty where recovery from the company is not possible, unless a director proves that the non-recovery is not attributable to his gross neglect, misfeasance or breach of duty. On conversion of a private company into a public company, that joint and several liability does not apply to persons who were directors during the private-company period for the unrecovered amounts, but the exclusion does not affect any personal penalty imposed on a director. Act-Rules GST - States Mon, 26 Jun 2017 15:30:45 +0530 https://www.taxtmi.com/acts?id=27869