Hdfc Bank (HDB) has released an update.
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HDFC Bank has been fined Rs. 18.39 crore by the Deputy Commissioner of State Tax in Andhra Pradesh for allegedly claiming excessive and ineligible input tax credits from fiscal years 2017-18 to 2021-22. The financial impact, including tax, interest, and penalty, totals Rs. 45.93 crore. The bank is considering legal options to challenge the penalty.
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