exemption of Rs.20 lakhs

Once registered required to pay GST whether collected or not.

It is advisable for the small assessee to apply for registration as soon as he crosses.Rs.20 lakhs [ Law requires that once liable he needto apply within 30 days)  There is a period in which he can continue to issue normal invoices including the GST payable. Say he is selling goods for 1180 then he can do the same. Once he gets registration from an effective date he can then raise revised invoices mentioning 1000 + IGST 180. He would also be eligible for credit.

However if delayed to register, it appears that he would lose the credit.

Dear sir, For FY1718, turnover was Rs 24 lakh. Registration took in Sept 2018. Whether I am liable to pay GST on Rs 4 laksh or Rs 24 lakh. There is an interpretation that 20 lakh limit is for registration and not for taxability and GST to be paid on full 24 What is your opinion on this sir?