Purchase of Capital Goods

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:

o      Grouped under Fixed Assets.

o      Predefined with Purchase Taxable - Capital Goods (as the Nature of Transaction).

6.     Debit ledger grouped under Current Assets.

Note: If VAT ledger is debited, the VAT Details screen appears for providing tax Rate and Assessable Value.

7.     Enter the transaction details for calculation of input tax credit in the Input Credit Details screen. The purchase voucher appears as shown below:

8.     Press Enter to save.

The tax credit on purchase of capital goods accounted as current asset can be availed as Input Tax Credit Admitted On Capital Goods.