Purchase of capital goods are recorded as fixed assets and is taxable. Input tax credit can be availed.
To record capital goods purchase transaction
1. Go to Gateway of Tally > Accounting Vouchers > F9: Purchase.
2. Press Ctrl+V to display the voucher mode.
3. Enter Supplier Invoice No. and Date in the purchase voucher.
4. Credit the party ledger, and enter the amount.
5. Debit the capital goods ledger:
To select capital goods ledger
1. Click F12: Configure.
2. Click F12: Advanced and enable the option Allow expenses/fixed assets in purchase vouchers?.
3. Press Ctrl+A to accept the Voucher Configuration screen.
● Grouped under Fixed Assets.
● Predefined with Purchase Taxable - Capital Goods (as the Nature of Transaction).
6. Debit the VAT ledger. The purchase voucher appears as shown below:
7. Press Enter to save.
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