Nirav Ltd. is registered with the jurisdictional GST authorities in the State of Rajasthan and operates in multiple businesses. The principal…

Nirav Ltd. is registered with the jurisdictional GST authorities in the State of Rajasthan and operates in multiple businesses. The principal business of Nirav Ltd. is works contract service being provided to the customers by way of fabricating and installing the body for large transportation vehicles. The chassis of the vehicles are provided by the customers to Nirav Ltd. Nirav Ltd. procures the material for fabrication and installs the same on the chassis against a lumpsum agreed amount for material as well as services. In addition to the above business, Nirav Ltd., registered as GTA, is also engaged in providing services of transportation of goods by road through its own fleet of trucks. GST is chargeable on such services @ 5%. Nirav Ltd. has not exercised the option to pay GST on the same. During the month of January, Nirav Ltd. undertook the following transactions: (i) Provided services of transportation of goods to Manohar Ltd., a registered person under GST in the State of Gujarat and received an amount of 10,00,000 as consideration for the same. (ii) Purchased tyres for its own fleet of trucks used for providing services of transportation of goods by road and paid an amount of 1,00,000 for such purchases. (iii) Purchased a machinery with an advance technology for fabrication of body for luxury buses amounting to 50,00,000. The machinery is installed at Nirav Ltd.'s premises and the same was purchased from BLM Ltd., a registered person in the State of Rajasthan. BLM Ltd. procured such machinery from Saket Ltd., a registered person under GST in the State of Maharashtra. The delivery was made by Saket Ltd. directly at the premises of Nirav Ltd. and installation work was carried out by the engineers of Saket Ltd. The amount charged by Saket Ltd. from BLM Ltd. was - 42,00,000. (iv) Nirav Ltd. procured certain engineering services for its fabrication business through electronic mode from Basilla Inc., a company located in Italy. The consideration paid to Basilla Inc. was - 15,00,000. Further, certain goods were sent by Nirav Ltd. for carrying out repair work on the same to Basilla Inc. The consideration paid for such repair work was - 5,00,000. (v) Provided services of transportation of goods to BPZ Ltd., its related party and received an amount of 5,00,000. The arm's length amount of such services provided to third party unrelated customers was - 7,00,000. (vi) Nirav Ltd. sold scrap relating to fabrication business amounting to 5,00,000. (vii) Purchased goods relating to fabrication business for 10,00,000 out of which goods worth - 1,00,000 were stolen from the premises of Nirav Ltd. (viii) Received an advance of 10,00,000 for fabrication work on new chassis and - 3,00,000 towards transportation of goods services from Karim Ltd., a registered person under GST in the State of Madhya Pradesh. The opening balance of input tax credit for the relevant tax period for Nirav Ltd. is nil. All the above amounts are exclusive of GST, wherever applicable. The applicable GST rate on all inward and outward supplies is 18% unless specified otherwise. Subject to the information given above, assume that all the other conditions necessary for availing ITC have been fulfilled. Based on the facts of the case scenario given above, choose the most appropriate answer to Q. Nos. 1 to 5 below: