Choose the incorrect statements.
(i) Shortage of goods, whether natural or artificial, is the root cause of black money.
(ii) Industrial sector has been the major contributor to black money.
(iii) Smuggling is one of the major sources of black money.
(iv) When the tax rate is low, more black money is generated.
Mr.Vadivel from Tamilandu sells a product worth 10,000 to Mr.Sarathy of Kerala, Vadivel has generated a bill of Rupees 11800 which comprise of 18% GST. Then What % GST will be levied