https://www.taxtmi.com/manuals?id=2670 Directors of a private company are jointly and severally liable for tax, interest or penalty that cannot be recovered from the company for supplies of goods or services, unless a director proves the non-recovery was not due to gross neglect, misfeasance or breach of duty. Where a private company is converted into a public company, the statute modifies the application of this joint liability for liabilities incurred during the private-company period and does not apply to any personal penalty imposed on such directors. en-us Thu, 04 May 2023 18:50:00 +0530 Mon, 10 Mar 2025 13:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/manuals?id=2670 Directors of a private company are jointly and severally liable for tax, interest or penalty that cannot be recovered from the company for supplies of goods or services, unless a director proves the non-recovery was not due to gross neglect, misfeasance or breach of duty. Where a private company is converted into a public company, the statute modifies the application of this joint liability for liabilities incurred during the private-company period and does not apply to any personal penalty imposed on such directors. Manuals GST Thu, 04 May 2023 18:50:00 +0530 https://www.taxtmi.com/manuals?id=2670