Statement A is incorrect because the Geographical Indications of Goods (Registration and Protection) Act, 1999 specifically covers goods (agricultural, natural, manufactured, handicrafts, and industrial) but not services. Statement B is incorrect because a key requirement for a product to obtain a GI tag is that it must originate from a specific geographical region, and its quality, reputation, or other characteristics must be essentially attributable to its geographical origin. This implies that the goods are produced, processed, or prepared in that region.