MCX faces GST penalty, cancels investor meeting

Multi Commodity Exchange of India (MCX) disclosed on December 12, 2025, that it received an appeal order from the GST Department on December 11, 2025. This order upholds the disallowance of Input Tax Credit (ITC) amounting to INR 3,10,51,914 from FY 2018-19 to FY 2021-22, and levies an equivalent penalty with interest. The appeal, filed by MCX, was rejected by the commissioner (appeal), confirming the earlier order by the joint commissioner, CGST & CX, Mumbai East Commissionerate. MCX stated there is no material impact on the company's financial, operational, or other activities from this order.

The company previously intimated BSE about this matter on January 27, 2025. MCX is currently in the process of responding to the latest appeal order.

Concurrently, MCX also announced the cancellation of a scheduled one-on-one physical meeting with Axis Mutual Fund, which was set to take place in Mumbai on Friday, December 12, 2025.