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.