Q. 566 WE WANT TO APPLY REFUND UNDER INVERTED DUTY STRUCTURE FOR FINANCIAL YEAR 2020-21. CAN WE APPLY IT AS IT WAS NOTIFIED IN ONE OF THE CIRCULAR. ALSO LET US KNOW THE RELEVANT CIRCULAR NO.

Ans. Yes, you can apply the same.

Q. 565 A company purchases vehicle of Rs. 25 Lakh ( Rs 20lakh + Block GST credit of Rs. 5 Lakh aprox.). Now after one month such company “A” sold such vehicle to a tour operator (‘B') of Rs. 23 Lakh including GST. Due to input block for A Company and tour operator (B) want take Input. MY QUESTION is, is there any possibility for minimum loss for Seller on selling price?

Ans. You can pay GST on the balance WDV value. 

Q. 564 I am a trader and want to purchase flat for using residential( some time office purpose), flat will be in the name of firm, can i take input?

Ans. No, you cannot take ITC.