Recording an Invoice for Purchase of Exempt Capital Goods

Purchase of exempt capital goods can be recorded by selecting the nature of transaction Purchase Exempt - Capital Goods.

This nature of transaction is provided for Delhi, Haryana, Odisha, and Punjab.

To record purchase of exempt capital goods

1.    Go to Gateway of Tally > Accounting Vouchers > F9: Purchase.

2.    Press Ctrl+V to switch to voucher mode.

3.    Click F12: Configure.

‚óŹ     In the configuration screen,

o     Click F12: Advanced.

o     Set the option Allow expenses/fixed assets in purchase vouchers? to Yes.

o     Press Ctrl+A to accept the configuration screen.

4.    Enter the Supplier Invoice No. and Date.

5.    Credit the party ledger and enter the amount.

6.    Debit the fixed assets ledger (grouped under Fixed Assets with Purchase Exempt - Capital Goods selected as the Nature of transaction), and enter the assessable value as shown below:

7.    Press Enter to save.

The value of this transaction gets captured in the relevant fields of state-specific VAT/CST forms and annexures.