SC directed assessee to pay interest on delayed payment of excise duty on price enhanced from retrospective effect

GST/Excise/ST/VAT : Where assessee, during period 1-1-2005 to July, 2006, sold goods to Indian Railways at price fixed by Circular dated 24-4-2005 and paid excise duty accordingly and subsequently said price was enhanced by railways by Circular dated 20-7-2006 with retrospective effect from 1-1-2005 and thereupon assessee based on enhanced price deposit a sum of Rs. 142 crores by way of excise duty in October, 2006, assessee was liable to pay interest under section 11AB on sum of Rs. 142 from fi

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