Consider the following statements about GST (Goods and Services Tax) in India:
1. GST replaced multiple indirect taxes in India.
2. It is a destination-based tax levied on every value addition.
3. GST has three components: CGST, SGST, and IGST.
4. Petroleum crude and alcoholic liquor for human consumption are included under GST.
Which of the above statements is/are correct?
1
1, 2, and 3 only
2
2, and 3 only
3
1 and 3 only
4
2 and 4 only
5
1, 2, 3, and 4