Identify the INCORRECT statements:

1.The Sarkaria Commission was set up to review the working of the existing arrangements between the Centre and the states.

2.The powers and functions between the Centre and States are distinctly outlined in the Seventh Schedule of the Indian Constitution.

3.The Goods and Services Tax (GST) is an example of fiscal federalism promoting cooperative federalism in India.

4.The Union List consists of subjects over which only the state governments have the authority to legislate.