Liability to Pay GST which is unpaid – For Stakeholders In our previous blogs, we have gone through the various provisions in place for recovery of tax, as well as some special recovery provisions. While these may work seamlessly in a normal scenario, there might be some special cases, where the due amount – tax, interest and penalty – may not be recovered from the taxpayer directly. In our next series of blogs, we will evaluate all such scenarios, and understand who has the liability to pay this due amount. Certain provisions have been defined to address the liability to pay GST which is unpaid, for stakeholders. Let’s see the various scenarios. Liability to pay GST – For Agent and Principal If an agent supplies or receives any taxable goods on behalf of his principal, then both the agent and the principal will be liable to pay unpaid GST, jointly and severally. This defines the liability to pay GST for both agents and principal. Liability of Directors of Private Com...
Comments
Post a Comment