Abatement as a percentage of retail sale price

[Kishan Barai]

Respected Sir/ Madam

'what is Abatement as a percentage of retail sale price ? '

I have tried to google it but unable to get accurate answer, please help. Thank you in advance.

AI Summary

Understanding Abatement as a Percentage of Retail Price and Its Impact on Excise Duty Calculation per Notification No. 49/2008-Ce (NT) A user inquired about the concept of abatement as a percentage of the retail sale price, seeking clarification on the term. A respondent explained that the Maximum Retail Price (MRP) is typically higher than the transaction value, as it represents the maximum amount a customer can be charged. Excise duty can be calculated based on either the ad valorem rate or the MRP, with the abatement rate specified in Notification No. 49/2008-Ce (NT). The inquirer expressed gratitude for the prompt and informative response.