Reporting period Summary Simplified Invoices for financial institutions

Clearance and Reporting
1

What is the deadline for reporting summary Simplified invoices for financial institutions ?
Is it after 24 hours of reporting period? For example, if we are issuing invoice for the month of January, should it be reported within 24 hours after January 31st?

Or we can report it before 2 weeks of next month like standard Invoices?

@Ankit_Tiwari we couldn’t find it in documentation, kindly refer if there is a document containing this information.

2

@Saad Please refer Article 53(7)(d) of VAT Regulations. It says Summary Simplified Tax Invoice must be issued no later than 15th day of the month day following the calendar month to which the Supplies pertain.

Note: Summary Simplified Tax Invoice can be issued only by banks, financial institutions, or insurance companies licensed by the competent authorities in the Kingdom;