Which of the following statements about Krishi Kalyan Cess (KKC) is/are correct? 1. KKC is calculated in the same way as Service Tax is calculated. 2. The current rate of KKC is $0.50 \%$ 3. KKC is similar to the KKS (Krishi Kalyan Surcharge). Select the correct answer using the code given below :

• A

  1,2 and 3
• Correct answer
  B

  1 and 2 only
• C

  2 and 3 only
• D

  1 only

Hence, the correct answer is option: 'B'.