Correct Option
The Goods and Services Tax (GST) regime provides exemptions for certain essential goods and services. Based on the GST framework:
- Item 1: Cereal grains hulled. Unprocessed or minimally processed food grains, including hulled cereals, are exempt from GST. This exemption aims to keep basic food items affordable for consumers.
- Item 2: Chicken eggs cooked. Fresh eggs and cooked eggs (when not served as part of a restaurant or catering service) are exempt from GST. This falls under the exemption for basic food items.
- Item 4: Newspaper containing advertising material. Newspapers, including those containing advertising material, are exempt from GST. This exemption applies to the sale of the physical newspaper. However, the service of providing advertising space itself is a taxable service.
- Item 3: Fish processed and canned. Processed and canned food items, including fish, are generally subject to GST. Value addition through processing, packaging, and branding typically brings such products under the tax net.
Therefore, items 1, 2, and 4 are exempt under GST.
Incorrect Options
- Option (A): "1 only" is incorrect because items 2 and 4 are also exempt.
- Option (B): "2 & 3 only" is incorrect because item 3 (fish processed and canned) is taxable, not exempt.
- Option (D): "1, 2, 3 & 4" is incorrect because item 3 (fish processed and canned) is taxable.