Multi Commodity Exchange of India Limited (MCX), a leading commodities exchange in India, has received a GST show cause notice dated 18th September 2025 from the Goods and Services Tax Department. The notice pertains to the alleged availment of excess Input Tax Credit amounting to Rs 3,83,81,524 for the Financial Year 2021-22. Along with this, the GST Department has proposed to levy interest of Rs 3,05,11,734 and a penalty of Rs 38,38,152 under Section 73(1) of the Goods and Services Tax Act, 2017.

MCX has informed both the BSE and NSE under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, ensuring full compliance with disclosure obligations. The company has also referenced SEBI Circular no. SEBI/HO/CFD/CFD-POD-1/P/CIR/2023/123 dated 13th July, 2023, which provides guidelines for reporting regulatory actions to the exchanges.

Despite the issuance of the notice, MCX has clarified that the matter does not have any material impact on the company’s financial position, operational performance, or other activities. The company is currently responding to the GST authorities and will follow due process to resolve the matter appropriately.

The notice is based on the GST Department’s review of MCX’s financials for FY 2021-22, which indicated excess input tax credit claimed. MCX has assured stakeholders that it is cooperating fully with the authorities and will provide all necessary clarifications and supporting documentation to demonstrate compliance with GST provisions.

MCX’s proactive reporting of the notice to the exchanges demonstrates the company’s commitment to regulatory compliance, transparency, and good corporate governance. By formally updating investors and stakeholders about the ongoing proceedings, MCX ensures that all parties are informed about developments that could impact financial reporting and compliance.

In conclusion, while the GST show cause notice raises a financial compliance issue, MCX’s prompt response and disclosure reflect a strong corporate governance framework. The company is taking the matter seriously and expects to address the concerns raised by the GST Department efficiently, ensuring no significant impact on its operations, financial health, or stakeholder confidence.

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