Check sibling questions
Excise
Valuation

Retail Sales Price (RSP) means

Maximum Retail Price to Ordinary Customer inclusive of all taxes and freight, transport charges, advertisement/packing forwarding charges etc

And

Price is Sole Consideration for such sale, Hence taxes are normally included while calculating RSP

Exception

If as per Legal Metrology Act or Central Excise Act, these taxes are to be excluded while calculating Retail Sales Price, then these are not taken into account for calculation.

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CA Maninder Singh

CA Maninder Singh is a Chartered Accountant for the past 12 years. He also provides Accounts Tax GST Training in Delhi and Kerala.