Purchase of capital goods are recorded as fixed assets and is taxable.
To record purchase of capital goods
1. Go to Gateway of Tally > Accounting Vouchers > F9: Purchases .
2. Press Ctrl+V to switch to voucher mode.
3. Click F12: Configure .
● Click F12: Advanced
● Set the option Allow expenses/fixed assets in purchase vouchers? to Yes .
● Press Ctrl+A to save the configuration screen.
4. Enter Supplier Invoice No. and Date .
5. Credit the party ledger and enter the amount.
6. Debit the fixed assets ledger (grouped under Fixed Assets and with Purchase Taxable - Capital Goods selected as nature of transaction) and enter the assessable value.
7. Debit the VAT ledger.
Note: If VAT ledger is debited, the VAT Details screen appears for providing VAT Rate and Assessable Value .
8. Set the option Provide VAT Details to Yes to open Statutory Details screen.
● Enter the Supplier inv.no and Date .
● Press Enter to save.
The purchase voucher appears as shown below:
9. Press Enter to save.
'Recording Purchase of Capital Goods (Assam)' has been shared with