Multi Commodity Exchange of India (MCX) has reported receiving a GST show-cause notice proposing a total of ₹103.31 crore for financial year 2022-23. The amount comprises proposed tax, interest and penalty; the available reporting does not establish that it has been finally adjudicated or paid.
What the GST notice proposes
CNBC TV18 reported that the notice is dated 29 September 2026 and was issued under section 73(1) of the Central Goods and Services Tax and Maharashtra Goods and Services Tax Acts, 2017, in Form GST DRC-01. It concerns FY 2022-23.
| Component | Proposed amount |
|---|---|
| Tax | ₹54.08 crore |
| Interest | ₹43.82 crore |
| Penalty | ₹5.41 crore |
| Total proposed | ₹103.31 crore |
The amounts are those reported by CNBC TV18 from MCX’s disclosure. They describe the demand proposed in the notice, not a final liability determination.
What the department alleges
According to CNBC TV18’s account, the GST Department alleges that tax was unpaid or short paid and/or that input tax credit was wrongly availed or used during FY23. These are allegations set out in a show-cause notice; the reporting available here does not establish their factual basis or resolve whether they are correct.
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MCX’s reported response
MCX reportedly said it was preparing a response and believed it had a strong factual case. The company also said it considered the matter to have no material impact on its financial position, operations or other activities. Those are MCX’s stated views as relayed by CNBC TV18 and other contemporaneous reporting, not an independent finding about the notice’s merits or impact.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What is known about the status
MCX’s investor-relations announcement index lists “Show Cause Notice received from GST Department” dated 30 September 2026: MCX announcements. CNBC TV18 reported the notice date, period, legal provision and proposed amounts: CNBC TV18 report.
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The announcement index confirms that MCX listed a notice-related disclosure, while the detailed figures and procedural description above come from contemporaneous news reporting. The sources cited here do not establish a later adjudication, payment, or other subsequent procedural development.
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