MCX gets GST notice for alleged excess input tax credit

Multi Commodity Exchange of India (MCX) announced on September 19, 2025, that it has received a show cause notice from the Goods & Service Tax (GST) Department. The notice, dated September 18, 2025, proposes the initiation of interest and penalty levies totaling INR 3,05,11,734 and INR 38,38,152, respectively. These proposed levies are under Section 73(1) of the Goods and Service Tax Act, 2017, pertaining to the availment of excess Input Tax Credit of INR 3,83,81,524 for the Financial Year 2021-22.

MCX stated that it is currently in the process of responding to the show cause notice before the appropriate authorities. The company confirmed that there is no material impact on its financial, operational, or other activities due to the said show cause notice. The intimation was made in accordance with Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and SEBI Circular no. SEBI/HO/CFD/CFDP0D-1/P/CIR/2023/123 dated July 13, 2023.