https://www.taxtmi.com/caselaws?id=89204 An amount described as interest charges was held includible in the assessable value of imported goods under Section 14 of the Customs Act, 1962 because it was payable regardless of whether payment was made after 120 days from the air way bill date or even on receipt of the goods. The fixed charge of US $ 2.25 per kg. did not have the character of interest on deferred payment, since interest is ordinarily linked to a percentage of value rather than a fixed rate per kilogram. On that basis, the amount formed part of the transaction value and was correctly included in assessable value. en-us Mon, 21 Sep 1998 00:00:00 +0530 Sat, 24 Sep 2011 10:58:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=89204 An amount described as interest charges was held includible in the assessable value of imported goods under Section 14 of the Customs Act, 1962 because it was payable regardless of whether payment was made after 120 days from the air way bill date or even on receipt of the goods. The fixed charge of US $ 2.25 per kg. did not have the character of interest on deferred payment, since interest is ordinarily linked to a percentage of value rather than a fixed rate per kilogram. On that basis, the amount formed part of the transaction value and was correctly included in assessable value. Case-Laws Customs Mon, 21 Sep 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=89204