TaxTMI 
TaxTMI 
XYZ is having turnover in the financial year 18 - 19 above ₹ 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 ₹ 20 Lacs, will he be exempted from paying GST and claim refund of GST already paid in 19 -20 or otherwise how it works?
Applicability of Threshold Exemption
10 Dec 2018 
17 Replies 
4312 Views Asked by
Threshold exemption governs GST registration, but registration continuity makes tax payable while registered and refunds unlikely.
Once aggregate turnover in a financial year exceeds the statutory threshold a person is liable to register and, having obtained registration, remains subject to GST so long as the GSTIN exists; registration is not automatically cancelled simply because turnover later falls below the threshold, refunds for tax remitted while registered are generally unavailable, and a person who crosses the threshold during a year must apply for registration within the prescribed period. (AI Summary)
Once aggregate turnover in a financial year exceeds the statutory threshold a person is liable to register and, having obtained registration, remains subject to GST so long as the GSTIN exists; registration is not automatically cancelled simply because turnover later falls below the threshold, refunds for tax remitted while registered are generally unavailable, and a person who crosses the threshold during a year must apply for registration within the prescribed period. (AI Summary)