In either of the following two cases, total volume will be far less than INR 20 Lakh/year. There are two ways I can do it...

1. Bitcoin sold directly to another person within India against NEFT/IMPS on LocalBitcoins.com. Please note that, it may be considered as inter-state supply as well as eCommerce.

2. Bitcoin sold at a Japanese exchange, where bitcoin has a legal status, and convert JPY to INR through bank transfer using SWIFT code. Please note that, it may be considered as export service.

Please note that...

i. I'm only interested in selling. Buying bitcoin has no implication of GST at buyer's end and my total volume is far less than INR 20 Lakh/year.

ii. I'm least interested to know whether GST is applicable or not for trading on Indian exchanges as I dont and I wont trade over there.

iii. If u r a CA, please do mention the same.