General Announcement::Disclosure

Issuer & Securities

Issuer/ Manager
HDFC BANK LIMITED
Securities
HDFCBANK INR23B 8.1%N250322 - XS1794215696 - 8NPB
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
07-Nov-2024 14:38:35
Status
New
Announcement Sub Title
Disclosure
Announcement Reference
SG241107OTHRL79P
Submitted By (Co./ Ind. Name)
Dhanjit Thaivallapil
Designation
Deputy Vice President
Effective Date and Time of the event
06/11/2024 17:00:00
Description (Please provide a detailed description of the event in the box below)
We hereby inform that a penalty of Rs. 18.39 crore has been imposed on the Bank by Deputy Commissioner of State Tax, Andhra Pradesh for matter/s mentioned in the below table:



1. Name of the authority- Deputy Commissioner of State Tax, Andhra Pradesh
2. Period Involved- F.Y. 2017-18 to F.Y. 2021-22
3. Nature and details of the action(s) taken, initiated or order(s) passed - Alleged excess availment of input tax credit, ineligible input tax credit - Order passed under section 74 of CGST and APGST Act
4. Date of receipt of direction or order, including any ad-interim or interim orders, or any other communication from the authority- 06-11-2024
5. Details of the violation(s)/contravention(s) committed or alleged to be committed- Alleged excess availment of input tax credit, ineligible input tax credit
6. Impact on financial, operation or other activities of the listed entity, quantifiable in monetary terms to the extent possible- Rs. 45.93 crore (includes tax, interest and penalty)

The Bank is evaluating appropriate legal remedy, including appeal, as per law.

Attachments

SGC- Penalty.pdf
Total size =470K