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Recording Purchase of Capital Goods (Assam)

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.