Indian Polity · Polity

Consider the following differences between the Finance Commission and the GST Council: (i) The Finance Commission's recommendations are advisory to the President, whereas the GST Council's recommendations form the basis for law-making but have been ruled by the Supreme Court as not strictly binding on the Union and States in an absolute legislative sense. (ii) The Finance Commission deals with the vertical and horizontal distribution of taxes, whereas the GST Council deals with the harmonization of goods and services taxes. (iii) The Finance Commission is constituted every five years (or earlier), whereas the GST Council is a permanent constitutional body. Which of the statements given above are correct?