The Multi Commodity Exchange of India (MCX) has received a show cause notice from the GST Department on September 18, 2025. The notice pertains to the alleged availment of excess Input Tax Credit amounting to ₹3,83,81,524 for the financial year 2021-22. MCX is currently in the process of responding to the notice and is engaging with the appropriate authorities.
GST Department Notice
Multi Commodity Exchange of India Limited (MCX) announced that it has received a show cause notice from the GST Department regarding Input Tax Credit. The notice was issued on September 18, 2025.
Details of the Alleged Violation
The show cause notice alleges excess availment of Input Tax Credit amounting to ₹3,83,81,524 for the financial year 2021-22. This is related to section 73(1) of the Goods and Service Tax Act, 2017.
Potential Financial Impact
The GST Department has proposed to levy interest of ₹3,05,11,734 and a penalty of ₹38,38,152. MCX stated that it is currently assessing the notice and preparing a response to the authorities. The Company believes this notice will not have material impact on the financials.
Company Response
MCX is currently responding to the show cause notice before the appropriate authorities.
Source: BSE
