How to Enter Fixed Assets Entry and take Input Credit effect in TallyERP.9?

In this Tutorial, We learn about entry of Fixed Assets and get input credit in GSTR 3B & GSTR 2. Once you completely setup your data for GST Compliances under Tally.ERP9.

You can record Fixed Assets (Capital Goods) entry through purchase voucher:

To Create Fixed Assets ledger follow these steps:

1. Go to Gateway of Tally - Accounts Info - Ledger - Create

2. Under Group Fixed Assets

3. Select yes to GST Applicable

4. Select the nature of Transaction. You can enter following nature of transaction for capital goods (fixed assets):

• Imports Taxable
• Imports Exempt
• Inter State Purchase Exempt
• Interstate Purchase from Unregistered Dealer - Services
• Inter State Purchase Taxable
• Purchase Deemed Exports - Exempt
• Purchase Deemed Exports - Taxable
• Purchase Exempt
• Purchase from SEZ - Exempt
• Purchase from SEZ - Taxable
• Purchase from SEZ - (Without Bill of Entry)  - Exempt
• Purchase from SEZ - (Without Bill of Entry)  - Taxable
• Purchase from Unregistered Dealer - Exempt
• Purchase From Unregistered Dealer - Nil Rated
• Purchase From Unregistered Dealer - Taxable
• Purchase Taxable

Select the nature of Goods as Capital Goods:

Press Enter to Save the details.  Press Enter again to save the voucher creation screen.

Now Record a purchase voucher as follows:

Enter voucher as shown above. Remember if you enter voucher as invoice then Fixed Assets ledger will not appear in ledger list. So record in voucher mode.

Now go to your GSTR 3B and GSTR 2 for see effect of GST Credit in your returns.

Note: To show Fixed Assets Ledger Press F12 two times in voucher entry and select Yes to allow Expenses / Fixed Assets in Purchase Voucher as below:

For full details watch below video: