Stallion India GST Inspection Concludes, Tax Paid

Stallion India Fluorochemicals Ltd has concluded an inspection and search proceeding initiated by Maharashtra State GST officials at its registered office. The company cooperated fully with the officials, providing necessary information and documents. The proceedings, which took place from October 9 to October 14, 2026, primarily related to Input Tax Credit (ITC) adjustments. Specific issues identified included inadmissible ITC on Offer for Sale (OFS)-related expenses, ineligible ITC on Rights Issue Expenses, ITC relating to cancelled suppliers, and blocked ITC. The company has reversed inadmissible ITC and undertaken proper distribution of ITC through the Input Service Distributor (ISD) mechanism. Stallion India has paid the communicated tax and interest liability and does not anticipate any material impact on its ongoing operations, as the matters largely involve ITC adjustments and rectifications that are revenue-neutral subject to applicable tax treatment.