You can record input tax credit admitted on capital goods by creating a journal voucher.
1. Go to Gateway of Tally > Accounting Vouchers > F7: Journal.
Note: You can create a journal voucher from Gateway of Tally > Display > Statutory Reports > VAT > select the VAT or CST form.
2. Click J: Stat Adjustment.
o Select VAT as the Type of duty/tax.
o Select Input Tax Credit Admitted On Capital Goods as the Nature of adjustment.
3. Debit VAT ledger, enter required details in VAT Details screen.
o Press Enter.
4. Debit additional tax ledger.
5. Credit the current assets ledger that was debited in the capital goods purchase transaction.
The journal voucher appears as shown below:
6. Press Enter to save.
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