What is the relevance of pricing procedure and how is it configured in the SD module? | SAP-SD

  As the name suggests, pricing procedure is responsible for mapping the needs of business and underlying processes. It calculates the pricing, discounting, and taxes. The pricing procedure can be configured by navigating the following menu path:
?    Implementation Guide (IMG Menu)->Sales and Distribution->Basic Functions->Pricing->Pricing Control->Define and Assign Pricing Procedures->Maintain Pricing Procedures (Transaction Code V/08)