Consider the following statements regarding the GST to be levied on corporate guarantee for subsidiaries and molasses-
I.The GST Council has notified that guarantees provided by corporates to their subsidiaries will attract a 14 per cent GST.
II.No tax will be levied if a personal guarantee is given by a director to the company.
III.  The council has also cut the GST rate on molasses to 9 percent from 28 percent. Which of the following statements is/are correct?