Section 89 LIABILITY OF DIRECTORS OF PRIVATE COMPANY [SECTION 89 OF THE CGST ACT

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... overed: where any tax, interest or penalty due from a private company in respect of any supply of goods or services or both for any period cannot be recovered, then, every person who was a director of the private company during such period shall, jointly and severally, be liable for the payment of such tax, interest or penalty unless he proves that the non-recovery cannot be attr .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... contained in provision of this section shall apply to any personal penalty imposed on such director [ Section 89(2) ]. Example 1: say, XYZ Pvt. Ltd. Incorporated on 1st Jan, 2015 and converted into a public company on 7th Aug, 2017 then, for the tax, interest or penalty in respect of any supply of goods or services or both for any period during 1st Jan, 2015 to 6th Aug, 2017 who will be .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X