Consider the following statements regarding GST: I. GST will bring more transparency to direct tax laws. II. GST was the 122nd Constitutional Amendment Bill introduced in the Parliament. III. GST is a destination-based tax. Which of the statements given above is/are correct?

Let's evaluate each statement regarding GST (Goods and Services Tax): I. GST will bring more transparency to direct tax laws. This statement is incorrect. GST is an indirect tax. It aims to bring transparency and simplify the indirect tax structure, not direct tax laws (like income tax). II. GST was the 122nd Constitutional Amendment Bill introduced in the Parliament. This statement is correct. The Constitution (122nd Amendment) Bill, 2014, was introduced in Parliament to pave the way for GST. It was later passed as the Constitution (101st Amendment) Act, 2016. III. GST is a destination- based tax. This statement is correct. Under GST, the tax is levied at the point of consumption (destination) rather than at the point of origin. This principle implies that revenue accrues to the state where the goods or services are consumed. Therefore, statements II and III are correct.