Demurrage

krishna iyer (Sr.Finance Manager) (197 Points)

04 July 2011  

Kindly clarify whether demurrage incurred (paid to Shipping companies) in connection with transportation (ie delay in taking delivery beyond the grace period) is to be offered for duty . In other words whether to be included in assessable value.

Is there any separate treatment, whether demurrage is incurred due to  the importers" fault or at exporter's fault or Customs/Port fault etc

 

Kindly advise