Which of the following statements are true in context of GST? 1. Adoption of four slabs tax rate structure of 5%, 12%, 18% and 28%. 2. There would be a category of exempt goods. 3. A cess would be levied on certain goods such as luxury cars, aerated drinks, pan masala and tobacco products, over and above the rate of 28% for payment of compensation to the states

Answer: Option A