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of <h1>Demurrage and Despatch Money Excluded from Assessable Value u/s 14 of Customs Act, 1962.</h1> The issue of including demurrage charges and excluding despatch money in the assessable value under Section 14 of the Customs Act, 1962, was raised by the Kandla Custom House. Following discussions at the Tariff Conferences in 1981 and 1989 and a review based on GATT Valuation principles in April 1991, it was concluded that demurrage and despatch money should not be part of the assessable value. These charges are considered penalties or rewards under a charter agreement and are not related to the freight or the price paid for goods. Consequently, they should not be included in the assessable value.
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