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No, it is not cancelled it will be conducted in 2018. All the states will conduct their own entrance exam.
It is expected that application form will be released from second week of February 2018.
To check in detail information you can refer below link
MHT CET 2018
Good Luck!!
MHRD has cleared a proposal by the All India Council for Technical Education (AICTE) to conduct a single entrance test for all engineering and architecture courses in the country from 2018.
So, State Exam likely to be replaced with single entrance exam.
Read complete news:
http://www.engineering.careers360.com/news/aicte-conduct-single-engineering-entrance-test-from-2018-on-lines-of-neet-252587
Wait for official notification for this single exam.
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