https://www.taxtmi.com/circulars?id=9484 The Board clarifies that the difference in rates paid to STC as service charges qualifies as expenditure "wholly and exclusively" for promotion of sales outside India and therefore falls within the scope of Section 35B weighted deduction. The exporter is treated as the actual supplier (with letter of credit and FOB consideration operating for the exporter), export incentives and duty drawback computed on gross bills, and the STC's market, promotional and contract-related services are activities qualifying for the weighted deduction. en-us Tue, 19 Oct 1982 00:00:00 +0530 Mon, 06 Jun 2011 15:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=9484 The Board clarifies that the difference in rates paid to STC as service charges qualifies as expenditure "wholly and exclusively" for promotion of sales outside India and therefore falls within the scope of Section 35B weighted deduction. The exporter is treated as the actual supplier (with letter of credit and FOB consideration operating for the exporter), export incentives and duty drawback computed on gross bills, and the STC's market, promotional and contract-related services are activities qualifying for the weighted deduction. Circulars Income Tax Tue, 19 Oct 1982 00:00:00 +0530 https://www.taxtmi.com/circulars?id=9484