You can record input tax credit admitted on capital goods by creating a journal voucher.
To avail input tax credit for purchase of capital goods
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. In the Stat Adjustment Details screen,
o Select VAT in the Type of duty/tax field.
o Select Reversal of Input Tax in the Nature of adjustment field.
o Select Capital Goods in the Additional Details field.
3. Debit the current asset ledger.
4. Credit VAT ledger, and enter required details in VAT Details screen, as shown below:
5. Credit additional tax ledger, and enter required details in VAT Details screen.
The journal voucher appears as shown below:
6. Press Enter to save.
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