Dear Frnds, kindly help me out in understanding the difference between maximum retail price and retail sale price
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Difference between mrp and rsp
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Quick Summary
MRP - Maximum Retail price - Maximum price of the product, which is the maximum price to the end consumar.
RST - Retails Sales Price - Agreed Price of the product between seller and buyer, which is always less from the MRP.
If RSP of our product is less then Rs.1000 and MRP is Rs.1649, whether we are liable to pay Excise Duty @ 2% ? Please advice.
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