Which of the following best describes the dual GST model implemented in India?
1
GST is levied only by the central government on the supply of goods and services.
2
GST is levied only by state governments on the supply of goods and services within their respective states.
3
Both the central and state governments levy GST simultaneously on the supply of goods and services.
4
GST is levied only on inter-state transactions of goods and services.
5
GST is levied only on imported goods and services.