Hdfc Bank (HDB) has released an update.
HDFC Bank has been penalized by the Deputy Commissioner (State Tax), Tamil Nadu, with a fine of Rs.0.95 crore for disallowance of input tax credit for the financial year 2018-19. The total impact on the bank, including tax and penalty, is quantified at Rs.10.46 crore. The bank is currently considering legal avenues for appeal against the order.
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