Applicability of threshold exemption
This query is : Resolved
10 December 2018
XYZ is having turnover in the financial year 18 - 19 above Rs.20 Lacs and therefore paying GST. In the year 19 -20, he will be continuing to pay GST and if his turnover will be below Rs.20 Lacs, will he be exempted from paying GST and claim refund of GST already paid in 19 -20 or otherwise how it works?
Udaya Chandran
(Expert)
10 December 2018
Once registered under GST, the person continues to be liable for payment of tax in the subsequent years also irrespective of the turnover.
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