The conversation between human and AI assistant.
What will be the impacts of gst on our economy?
Have there been any changes to MRP due to GST?
Yes, under GST, MRP (Maximum Retail Price) no longer exists, and has been replaced by the concept of RSP (Retail Sale Price). The RSP includes GST, and businesses are required to pass on the benefits of any input tax credits to consumers. This change has aimed to eliminate double taxation and make pricing more transparent for consumers.