Interest payable on differential duty payable due to retrospective price escalation

M/s. Steel Authority of India Ltd. Vs Commissioner of Central Excise (Supreme Court) Larger Bench of Supreme Court has held that interest for delayed payment of Central Excise duty is liable to be paid on the differential excise duty payable due to retrospective price escala Earlier, doubting the correctness of the Supreme Court decision in the cases of CCE v. SKF India Ltd. [2009 (13) SCC 461] and International Auto [2010 (2) SCC 672], the matter was referred to the Larger Bench in Steel Authority of India case [2015 (16) SCC 107]. The Referring Bench was of the view that excise duty paid on...