GST show cause notice to MCX over alleged tax issues for FY23

Regulatory & Legal View source PDF Explain this filing

MCX · price

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Price reactionminutes from the announcement price · days from the prior close

-2.9%Reaction day

₹3300.40

prior close

₹3300.00

announcement price

After-mkt

timing

Nifty Midcap 150market-1.0%-1.9% vs market

Capital Markets peers, median of 64sector · industry level-0.5%-2.4% vs sector

On the reaction day the stock moved 1.9 pts less than Nifty Midcap 150 and 2.4 pts less than its Capital Markets peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

+0.5

10m

+0.1

15m

+0.2

30m

-0.1

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

-2.9-1.0-1.9-0.5-2.4

Next day

-3.6-0.5-3.1+0.5-4.1

+0.5+0.5-0.0+1.3-0.8

+1.9-0.1+2.0+1.1+0.8

-1.4-2.5+1.2-1.1-0.3

+0.6-1.2+1.8-0.2+0.8

+0.1-0.2+0.3+0.2-0.1

15d

-5.7-4.8-0.9-5.4-0.3

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UpDownMarket · Nifty Midcap 150Sector · Capital Markets peers, median of 64Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

MCX got a Show Cause Notice from GST Dept dated Sep 29, 2026 for FY 2022-23. Alleged short payment of tax or wrongful use of input tax credit. Proposed demand of about Rs.54 crore in tax, about Rs.44 crore in interest, and about Rs.5.4 crore in penalty. Company says no material impact and plans to file a response, calling case strong.

Likely market impact

Notice stage only, no order yet. Proposed demand about Rs.103 crore; company disputes claims and will respond. Watch for further updates.