Hdfc Bank (HDB) has released an update.
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HDFC Bank has been penalized Rs. 0.72 crore by the Deputy Commissioner of State Tax, Tamil Nadu, for allegedly claiming excess input tax credit during the fiscal year 2020-21. The total financial impact, including tax and penalty, amounts to Rs. 7.88 crore. The bank is considering legal options, including an appeal, to address the penalty.
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