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Multi Commodity Exchange of India (MCX) has reported receiving a GST show-cause notice for FY 2022-23 that proposes a total of ₹103.31 crore in tax, interest and penalty. The amount is proposed in the notice; the available reporting does not establish that it has been finally adjudicated or paid.
What the GST notice proposes
CNBC TV18 reported that the notice is dated 29 September 2026 and was issued under section 73(1) of the Central Goods and Services Tax and Maharashtra Goods and Services Tax Acts, 2017, in Form GST DRC-01. The reported components are:
| Component | Proposed amount |
|---|---|
| Tax | ₹54.08 crore |
| Interest | ₹43.82 crore |
| Penalty | ₹5.41 crore |
| Total | ₹103.31 crore |
These are proposed amounts reported from MCX’s disclosure, not a final determination of what the exchange owes. [CNBC TV18]
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The notice reportedly alleges that tax was unpaid or short paid and/or input tax credit was wrongly availed or utilised during FY23. These are allegations set out in a show-cause notice; the sources available do not establish the detailed factual basis or resolve whether the allegations are correct.
MCX’s reported response
MCX reportedly said it was preparing its response, believed it had a strong factual case, and considered the matter to have no material impact on its financial position, operations or other activities. Those statements describe the company’s position, not an independent finding about the case or its outcome. [CNBC TV18]
What is known about the status
MCX’s investor-relations announcement index lists “Show Cause Notice received from GST Department” dated 30 September 2026. The listing confirms the announcement’s existence and date, but the linked notice text was not available in the material reviewed. The sources reviewed do not establish a later adjudication decision or other subsequent procedural development. [MCX investor relations]
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