If your income is approaching the £20 lakh threshold for GST registration, you'll need to register. Importantly, your GST liability only applies from the date you register, not retrospectively for income earned before registration. This means supplies made before your GST registration date are not subject to GST.
05 December 2024
I am a professional, during the year upto November my income is 19 lakh and it will cross 20 lakh in december month. In this scenario if i'm get registered what will be my gst liability. Is i liable to issue gst invoice in excess of 20 lakh or is it required to pay gst on my entire income