What is Retail Sale Price, RSP under import duty calculation

 

The information provided here is part of Guide on howtoexport and import

Meaning of RSP, Retail Sale Price


rspThe full form of RSP means Retail Sale Price.


What is the meaning of Retail Sale Price, RSP?


Retail Sale Price RSP is the maximum price at which the excisable goods in packaged form may be sold to the ultimate consumer and includes all taxes, local or otherwise, freight, transport charges, commission payable to dealers, and all charges towards advertisement. The RSP of a product can be different from one country to another country based on the total production cost and market price.


The definition and meaning for RSP (Retail Sale Price) is explained here briefly. If you would like to add more information about Retail Sale Price (RSP), please write below.

A brief description about the subject is explained here.   You may contact concerned government agency for latest update.

Also read:    Meaning of CVD ,Countervailing Duty under import duty calculation      Certification of Phyto Sanitary under exports and imports      Air emission standard under exports and imports     Certification from Pollution control Board      Maintaining quality under importation of goods      Process under import of weight and measures      How does Anti dumping duty work?      Obtaining No Objection Certificate from Plant Quarantine Department      How to differentiate Prohibition to import and restriction to import      Import of goods? mind noise!      Restricted to import designed ports only      Reasons for restrictions to import goods      Why Prohibition to import goods      Transportation of Hazardous waste      Difference between Multilateral Trade Agreements and Bilateral Agreements       

 

 

The above information is a part of Online export import training guide


Express your views about RSP, Retail Sale Price.

Also read;


GST rate payable for goods or service, click here

 

Click here to know GST exemption list of goods and service


How to export your product?
How to import your product?
Click here to know HS code of your product
What is the ITC code (Indian Tariff Code) of your product?
12 Major risks and solutions in Imports and Exports
Dispute settlement in international business

 

Related posts about import export trade tutorial:

Method to import Organic chemicals
Difference between normal cargo container and Reefer Container
How to know the quality, quantity or contents of goods before import customs clearance
How to re-construct EP copy of shipping bill
How to send export samples to foreign buyer? Tips to send samples to foreign buyer
Is Airway bill a documents of title?
Is DP terms of payment safe in export business?
Know the term Port of Discharge and Place of Delivery
LC advantage exporter
MSDS Material Safety Data Sheet
Non receipt of Cargo Arrival Notice, Can importer sue against shipping company
Office to contact Phytosanitary inspection in India
Types of Export Containers
Dimension of Cargo Containers
How to Import Articles of Iron and Articles of Steel
How to import Iron and Steel
Procedure to import Pearls,Imitation Jewelry And Coins
Tips to import Glass and Glassware products

 

 

 

How does a Running bond work?
How does Bill of Lading work in DP payment terms?
How does Bill of Lading work in Sight LC
Transferability of Bill of Lading
Transhipment - A redefinition        
Triangular shipment
Types of Insurance Documents
How does CENVAT Credit work? 
Import General Manifest (IGM)
Importance of Bill of Lading 
 Is Airway bill a documents of title?
Is Customs House Agents (CHA ) required to be appointed mandatory?
 Is DP terms of payment safe in export business?
 
Is Letter of Credit LC safe for an Importer?
 Is ON BOARD CERTIFICATE required for LC negotiation
 What is VACIS exam in US import customs clearance
 
When can an exporter release bill of lading from shipping company?
 
When does exporter get EP copy of shipping bill after customs clearance
How does CFR term of delivery work in Export Import business
 
How does comprehensive policy of ECGC work for exporters?
The role of CBEC - Central Board of Excise and Customs in India.
 The role of Export Inspection Agency in Pre-shipment Inspection & Quality Control
The role of Reserve Bank of India
The Role of the International Chamber of Commerce (ICC)
Negotiation procedures and formalities of export bills
Non receipt of Cargo Arrival Notice, Can importer sue against shipping company
OBJECTIVES OF CUSTOMS CONTROL for EXPORT GOODS

 

OBL not released OBL not surrendered no telex release

Payment procedures in Triangular exports
Who is Stevedores
Who receives the amount of auctioned / resold imported unclaimed/un-cleared goods?
 
Why demurrage/detention waiver period is required at destination for import




Comments


Arun G.Nampoothiri : i am a software employ, trying for Indian Export /import optimization services.i have a doubt about 1) How to calclate import duty what all the things we need to take care Kindly guid me on this import duty calculation.

Admin: Hi Arun G. Nampoothiri, You may read our article about international trade, HOW TO FIND ASSESSABLE VALUE in this website.

Vipin CM: Hi, I Want to know the formula for calculation of RSP amount calculation for Import. Could you please explain with an example ?

Anil: I got the goods i.e LED lights, Bulbs, Tubes and Panels manufactured from China under my brand name and logo The carton contained the printed information as to the logo, my firm's name and specification of the products inside besides batch no and MRP(in INR) of the products. At the time of import I had submitted the proforma invoice at which I had transacted value and made payment to the manufacturer in China.This is the only document which is an agreement between us. I had to pay Customs duty on MRP considering as RSP since printed on it. My contention is that customs Duty should be charged to me on the value of the goods I paid Plus all the expenses / Charges up to the port of Import and charging the duty on the expenses likely to be incurred thereafter should not be charged because when goods arrived in India I have to compete in the local market where I may have to sell my goods below or much below of the MRP/RSP also. Kindly quote if there is any case law on this subject matter.

RAVINDER TALWAR: We imports electrical appliances from china, its RSP items.. We put MRP sticker on every peiec of impOrted goods, Can RSP lower than MRP ? Duty will be calculated on RSP or MRP ?? SUPPOSE MRP MENTION ON PRODUCT IS RS. 1000/- AND RSP IS ONLY RS. 600/- then custom duty will be calculated on which price.

JITENDER SINGH: Dear sir/Madam We are going to import tyres for trading purpose. These tyres to be sold to Institutional & Industrial consumer. May we take SAD exemption under notification no. 021/2012 2 at the time of custom clearance? & what is legal metrology act? is tyre cover under this act? Please confirm.. regards Jitender singh

Discussion Forum

You can also share your thoughts about this article.
Any one can answer on question posted by Readers