Consider the following statements regarding United Nations General Assembly (UNGA):

1. UNGA is the principal organ of the United Nations where all member states have equal representation

2. The President of the UNGA is elected annually and serves a one-year term

3. Resolutions passed by the UNGA are legally binding on all member states

Consider the following statements regarding GST Compensation Cess: 1. It is an additional cess that is levied on certain sin or de-merit goods 2. It was introduced to compensate the states for revenue loss under the GST regime for ten years Which of the statements above is/are correct?