Profit Margin Scheme

In case of supplies under Profit Margin Scheme, is it required to be shown tax base and the VAT amount separately on the Tax Invoice? Or it needs to be present the figures as inclusive of vat only on the Tax Invoice?

Nusrat Abbas

22/09/2021 13:29:57

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SAJITH N22/09/2021 14:16:32

As per Article 29(6) of ER, the tax invoice should not specify VAT amount on the invoice. Further it should specify that the Tax was charged with reference to the profit margin.

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Nusrat Abbas22/09/2021 15:58:18

Thanks Sajith.

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