Consider the following statements regarding the regulation and taxation of alcoholic tinctures in India:
Statement I: The state government can prescribe an 18% tax slab for alcohol meant for medicinal purposes.
Statement II: Public health and the taxation of alcohol fall under Concurrent list.
Statement III: Only the state governments can enact laws under the Drugs and Cosmetics Act, 1940.
Which one of the following is correct in respect of the above statements?
1
Both Statement II and Statement III are correct, and both of them explain Statement I.
2
Both Statement II and Statement III are correct, but only one of them explains Statement I.
3
Only one of the Statements II, and III is correct, and that explains Statement I.
4
None of the three statements is correct.