Economics · Economy

Consider the following statements about Goods and Services Tax (GST) in India: I. The 101st Constitutional Amendment Act introduced GST in India. II. GST subsumed major indirect taxes like VAT, central excise duty, and service tax, but did not subsume basic customs duties. III. GST Council recommendations are fully binding as statutory mandates on both the Union and the State legislatures. IV. Integrated GST (IGST) applies to the inter-state supply of goods and services as well as imports. Which of the statements given above are correct?