The retail industry, particularly e-commerce, wants marketing spend to be classified as operating expenditure rather than capital expenditure As Finance Minister Arun Jaitley prepares to present Union Budget 2018 , the Narendra Modi-led NDA government’s last full Budget before going for the 2019 general elections, the retail sector wants him to consider reworking the income-tax rules to classify marketing spend as operating expenditure rather than capital expenditure. With low customer loyalty as is seen in the retail sector, marketing should certainly be understood to be operating expenditure. Even physical retailers that offer end-of-season sales consider discounts as notional operating expenditure. Among other key Budget expectations from Finance Minister Arun Jaitley is allowing foreign direct investment (FDI) in the country’s multi-brand e-commerce sector through the automatic route. At present, a lot of complicated structures are used by companies to get this ...