Hdfc Bank (HDB) has released an update.
HDFC Bank has been subjected to multiple penalties totaling Rs. 1.001 crore by various tax authorities for issues such as excess availment of input tax credits and short payment of tax for the fiscal year 2018-19. These penalties were imposed by the Additional Commissioner of Customs & Central Tax, Telangana, the Deputy Commissioner of State Tax, Maharashtra, and the Deputy Commissioner of State Tax, Assam. The bank is actively considering legal options to appeal these decisions.
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