Purchase of capital goods are recorded as fixed assets and is taxable. Input tax credit can be availed.
You can record taxable purchases of fixed assets (capital goods).
Creating a Fixed Assets ( Capital Goods) with GST Details : [ Example : Furniture ( GST 18%) ]
1. Go to Gateway of TallyERP9 → Accounts Info → Ledger → Create
2. Under Statutory Information, Set/alter GST Details should be YES with GST Applicable. Then you will get GST Details for Ledger Screen as below:
3. Select ‘Purchase Taxable’ under Nature of transaction lists as displayed above.
4. Select ‘Capital Goods’ in case of Nature of goods
5. Mention GST Rate under Tax Type
6. Select Goods or Service accordingly, then Press CTRL + A ( to Save)