Section 88 – Liability in case of company in liquidation of CGST ACT, 2017<\/p>\n
88. (1) When any company is being wound up whether under the orders of a court or
\nTribunal or otherwise, every person appointed as receiver of any assets of a company
\n(hereafter in this section referred to as the \u201cliquidator\u201d), shall, within thirty days after his
\nappointment, give intimation of his appointment to the Commissioner.
\n(2) The Commissioner shall, after making such inquiry or calling for such information
\nas he may deem fit, notify the liquidator within three months from the date on which he
\nreceives intimation of the appointment of the liquidator, the amount which in the opinion of
\nthe Commissioner would be sufficient to provide for any tax, interest or penalty which is
\nthen, or is likely thereafter to become, payable by the company.
\n(3) When any private company is wound up and any tax, interest or penalty determined
\nunder this Act on the company for any period, whether before or in the course of or after its
\nliquidation, cannot be recovered, then every person who was a director of such company at
\nany time during the period for which the tax was due shall, jointly and severally, be liable for
\nthe payment of such tax, interest or penalty, unless he proves to the satisfaction of the
\nCommissioner that such non-recovery cannot be attributed to any gross neglect, misfeasance
\nor breach of duty on his part in relation to the affairs of the company.<\/p>\n","protected":false},"excerpt":{"rendered":"
Section 88 – Liability in case of company in liquidation of CGST ACT, 2017 88. (1) When any company is being wound up whether under the orders of a court or Tribunal or otherwise, every person appointed as receiver of any assets of a company (hereafter in this section referred to as the \u201cliquidator\u201d), shall, … Continue reading “Section 88 – Liability in case of company in liquidation of CGST ACT, 2017”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16],"tags":[],"_links":{"self":[{"href":"https:\/\/khannaandassociates.com\/blog\/wp-json\/wp\/v2\/posts\/303"}],"collection":[{"href":"https:\/\/khannaandassociates.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/khannaandassociates.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/khannaandassociates.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/khannaandassociates.com\/blog\/wp-json\/wp\/v2\/comments?post=303"}],"version-history":[{"count":1,"href":"https:\/\/khannaandassociates.com\/blog\/wp-json\/wp\/v2\/posts\/303\/revisions"}],"predecessor-version":[{"id":304,"href":"https:\/\/khannaandassociates.com\/blog\/wp-json\/wp\/v2\/posts\/303\/revisions\/304"}],"wp:attachment":[{"href":"https:\/\/khannaandassociates.com\/blog\/wp-json\/wp\/v2\/media?parent=303"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/khannaandassociates.com\/blog\/wp-json\/wp\/v2\/categories?post=303"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/khannaandassociates.com\/blog\/wp-json\/wp\/v2\/tags?post=303"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}