HDFC Bank Limited announced that a penalty of INR 10.7 million has been imposed on the Bank by Additional Commissioner ? Customs & Central Tax, Telangana. Period Involved: F.Y. 2017-18.

Nature and details of the action(s) taken, initiated or order(s) passed: Alleged short payment of Tax and disallowance of input tax credit - Order passed under section 74 (9) and section 125 of CGST Act. Date of receipt of direction or order, including any ad-interim or interim orders, or any other communication from the authority: May 20, 2024. Details of the violation(s)/contravention(s) committed or alleged to be committed: Alleged short payment of tax and excess availment of input tax credit.

Impact on financial, operation or other activities of the listed entity, quantifiable in monetary terms to the extent possible: INR 21.8 million (includes tax, interest and penalty).