How do you know how much to pay for a bottle of water? You look at the numbers printed next to the initials MRP (maximum retail price).
For instance, a 500 ml bottle of water has Rs10 printed next to the MRP.
What is included
An MRP is arrived at after adding all the costs and the profit margin of the retailer.
According to the Standard of Weights and Measures (Packaged Commodities) Rules, 1977, MRP must include ‘all taxes local or otherwise, freight, transport charges, commission payable to dealers, and all charges towards advertisement, delivery, packing forwarding and the like, as the case may be.’ Charging more than the MRP is illegal. Remember this as you shop for a festival or your daily needs.
