Tax & Penalty30 Sept 2026, 09:00 pm
MCX Receives GST Show Cause Notice for ₹540.84 Cr Tax Demand
AI Summary
Multi Commodity Exchange of India Ltd (MCX) has received a Show Cause Notice (SCN) from the GST Department proposing a penalty of ₹5,40,84,259/- and a tax demand of ₹54,08,42,587/- along with interest of ₹43,82,15,854/-. The notice pertains to alleged non-payment or short payment of tax and wrong availment or utilization of input tax credit for the Financial Year 2022-23. MCX is in the process of responding to the SCN and believes it has a strong case. The company states there is no material impact on its financial or operational activities.
Key Highlights
- MCX received GST Show Cause Notice dated Sept 29, 2026.
- Proposed tax demand is ₹54,08,42,587 with ₹43.82 Cr interest.
- Penalty of ₹5.40 Cr proposed for FY 2022-23 violations.
- Company is preparing a response and expects no material impact.
- Allegations relate to tax payment and input tax credit utilization.
Price Impact
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