Hdfc Bank (HDB) has released an update.
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HDFC Bank has been penalized by the Deputy Commissioner of State Tax, West Bengal, with a fine of Rs. 0.25 crore for the alleged excess availment of input tax credit for the financial year 2019-20. The total impact of the violation, including tax, interest, and penalty, is quantified at Rs. 4.82 crores. The bank is considering legal options, including the possibility of an appeal.
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