Which of the following is true regarding "GST"?

1. One nation-one tax
2. Decrease in prices
3. Production based tax

1 and 2

Goods and services tax was implemented with the following objectives in consideration:

1. It followed "one nation and one tax" so that a unified market could exist.
2. The provision of availing input credit at each stage of value helps in avoiding the cascading effect (tax on tax).
3. It is expected that ease of doing business will improve with the help of better administration.
4. It was implemented to ensure that there would be only one tax from the manufacturer to consumer leading to greater tax transparency. Prevention of leakage will benefit customer with a reduction in overall tax burden. We can also say it to be a "Consumption based tax".