Hdfc Bank (HDB) has released an update.
HDFC Bank has been penalized by the Deputy Commissioner of State Tax, Mumbai, with a minor penalty of Rs. 0.01 Crore for the alleged excess availment of input tax credit for the financial year 2018-19. The total impact of the issue, including tax, interest, and penalty, amounts to Rs. 0.17 Crore. The bank is considering legal actions, including a possible appeal, to address the order received on April 8, 2024.
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