https://www.taxtmi.com/article/detailed?id=13905 GST compliance forms seven principal risk categories-compliance, cash flow, operational, audit/inspection, regulatory, supply chain, and ITC mismatch-that materially affect corporate finances and reputation. Directors face personal liability across statutes: officers in default under the Companies Act, joint and several liability for private company tax dues under the Income Tax Act unless due diligence is shown, and personal recovery under section 89 of the CGST Act for unpaid GST, interest and penalties where misfeasance, breach of duty or gross negligence are established. Risk management requires automation, reconciliation, audits, board oversight and proactive engagement with authorities. en-us Tue, 25 Mar 2025 08:49:11 +0530 Tue, 25 Mar 2025 08:49:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=13905 GST compliance forms seven principal risk categories-compliance, cash flow, operational, audit/inspection, regulatory, supply chain, and ITC mismatch-that materially affect corporate finances and reputation. Directors face personal liability across statutes: officers in default under the Companies Act, joint and several liability for private company tax dues under the Income Tax Act unless due diligence is shown, and personal recovery under section 89 of the CGST Act for unpaid GST, interest and penalties where misfeasance, breach of duty or gross negligence are established. Risk management requires automation, reconciliation, audits, board oversight and proactive engagement with authorities. Articles Corporate Laws / IBC / SEBI Tue, 25 Mar 2025 08:49:11 +0530 https://www.taxtmi.com/article/detailed?id=13905