Abstract We present here the results of the first broadband simultaneous spectral and temporal studies of the newly detected black hole binary MAXI J1820+070 as seen by Soft X-ray Telescope and Large Area X-ray Proportional Counter (LAXPC) on board AstroSat. The observed combined spectra in the energy range 0.7–80 keV were well modeled using disk blackbody emission, thermal Comptonization, and a reflection component. The spectral analysis revealed that the source was in its hard spectral state (Γ = 1.61) with a cool disk (kT in = 0.22 keV). We report the energy dependent time-lag and root mean squared (rms) variability at different frequencies in the energy range 3–80 keV using LAXPC data. We also modeled the flux variability using a single-zone stochastic propagation model to quantify the observed energy dependence of time lag and fractional rms variability, and then compared the results with that of Cygnus X-1. Additionally, we confirm the detection of a quasi-periodic oscillation with the centroid frequency at 47.7 mHz.