Recording Purchase of Capital Goods (West Bengal)

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:

●     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.