Goods and Services Tax (GST) was introduced as a part of indirect tax reforms in India.
Which of the following are the salient features of the GST?
1. GST is applicable on the manufacture of goods or on sale of goods or on the provision of services.
2. GST is applicable to the supply of goods or services.
3. GST is based on the principle of destination-based consumption taxation.
4. GST is levied at rates decided by GST Council.
Select the correct answer using the code given below:
1. 1 and 4 only
2. 2 and 3 only
3. 2, 3 and 4 only
4. 1, 3 and 4 only