You will lose business, as simple as that. Here is why: Your must be working with various vendors, suppliers and customers, and most probably, they are registered under GST. Hence, if they are working with you, but if you are not paying taxes as per GST, then they will have to suffer, and pay additional taxes, on your behalf. This doesn’t work for a long time. Hence, if you are a freelancer and a self-employed personal, and even if your annual revenues is less than Rs 20 lakh, get yourself registered.