https://help.tallysolutions.com/docs/te9rel63/Tax_India/VAT/Delhi/dl_itc_cg.htm

Input Tax Credit Admitted on Capital Goods (Delhi)

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 to select the required options in the Stat Adjustment Details screen as shown below:

o Select VAT as the Type of duty/tax .

o Select Input Tax Credit Admitted On Capital Goods as the Nature of adjustment .

o Press Enter to save.

3. Debit VAT ledger. The Credit Details Settlement screen appears.

o Enter value of second installment of input credit claimed in the field Amount Claimed as shown below:

o Press Enter to return to voucher screen.

4. Enter the VAT amount in Debit column.

5. Credit the current assets ledger created for VAT claimable.

6. Enter Narration , if any.

The journal voucher appears as shown below:

7. Press Enter to save.