5443422026-10-215443422026-10-21ActionsTakenOrOrdersPassedDomain15443422026-10-21ActionsTakenOrOrdersPassedDomain1PersonsAgainstWhomActionsTakenOrOrdersPassedDomain15443422026-10-21SignatoriesDomain1xbrli:pureSTALLIONStallion India Fluorochemicals Limited544342NAINE0RYC01010NewAction(s) taken or orders passed (sub-para 20)false2026-10-1423:30:002026-10-21Any other similar action(s)Inspection and search proceedings under Section 67 of the Maharashtra Goods and Services Tax Act, 2017.Regulatory AuthorityAssistant Commissioner of State Tax, Investigation-C, Mumbai,Maharashtra.1Listed Entity (Self)Stallion India Fluorochemicals LimitedIn-PersonInspection and search proceedings under Section 67 of the Maharashtra Goods and Services Tax Act, 2017.2026-10-14During the course of the investigation, the following matters relating to Input Tax Credit (ITC) were identified: • Inadmissible Input Tax Credit (ITC): Inadmissible Input Tax Credit (ITC) availed on Offer for Sale (OFS)-related expenses under Section 17(2) of the MGST Act, 2017 has been reversed. • Ineligible ITC on Rights Issue Expenses: ITC attributable to another State (Rajasthan), alleged to be ineligible under Section 20 of the MGST Act, 2017. • ITC Pertaining to Cancelled Supplier: Liability arising in respect of ITC relating to cancelled supplier. • ITC Distribution through ISD: Proper distribution of Input Tax Credit (ITC) through the Input Service Distributor (ISD) mechanism under Section 20 of the MGST Act, 2017, has been undertaken, and the ITC previously availed has been reversed. • Blocked ITC: ITC availed in GSTR-3B, alleged to be inadmissible under Section 17(5) of the MGST Act, 2017. 2023-24 to 2026-27The Company has taken appropriate steps to address the observations raised by the GST authorities and has paid the tax and interest liability communicated in connection with the proceedings. The Company does not anticipate any material impact on its ongoing operations or other business activities. The matters primarily relate to Input Tax Credit (ITC) adjustments and rectifications, major part of which is revenue-neutral, subject to the applicable tax treatment. The Company continues to take appropriate steps to ensure compliance with the applicable provisions of the GST law.During the course of the investigation, the following matters relating to Input Tax Credit (ITC) were identified: • Inadmissible Input Tax Credit (ITC): Inadmissible Input Tax Credit (ITC) availed on Offer for Sale (OFS)-related expenses under Section 17(2) of the MGST Act, 2017 has been reversed. • Ineligible ITC on Rights Issue Expenses: ITC attributable to another State (Rajasthan), alleged to be ineligible under Section 20 of the MGST Act, 2017. • ITC Pertaining to Cancelled Supplier: Liability arising in respect of ITC relating to cancelled supplier. • ITC Distribution through ISD: Proper distribution of Input Tax Credit (ITC) through the Input Service Distributor (ISD) mechanism under Section 20 of the MGST Act, 2017, has been undertaken, and the ITC previously availed has been reversed. • Blocked ITC: ITC availed in GSTR-3B, alleged to be inadmissible under Section 17(5) of the MGST Act, 2017. Not ApplicableNot ApplicableThe Company has taken appropriate steps to address the observations raised by the GST authorities and has paid the tax and interest liability communicated in connection with the proceedings.CS Govind RaoCompany Secretary & Compliance Officer2026-10-21Mumbai