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of <h1>Demurrage Charges Must Be Included in Assessable Value of Goods, Says Finance Ministry's New Circular u/s 14.</h1> The circular from the Ministry of Finance, Department of Revenue, clarifies that ship demurrage charges should be included in the assessable value of goods under Section 14 of the Customs Act, 1962, as per Rule 9(2) of the Customs Valuation Rules, 1988. This supersedes the earlier letter dated August 14, 1991, which suggested that demurrage and despatch money might not form part of the assessable value. The circular emphasizes that the previous interpretation was not intended to exempt demurrage charges from customs duty, and the earlier letter is now withdrawn.
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