Captial Item , fiXed assest are same

hansika

Hi folks,

As far as I know ,

Captial Item , fiXed assest are same .
Is it correct ?
If not , please let now how ?

Be cause when it comes to item card- > Tax Information Tab

U have two fileds


Capital item = it has check mark.( help says - A check mark in this field indicates that the item is classified as a capital item)

Fixed assest = It has a check mark.( Help says - A check mark in this field indicates that the program considers the item as a fixed asset.)
What is the purpose of this fields ?
How to use this fields.
IN HF2 Manul of opening entries it says
They are updating the opening entries differently
This
Opening Balance in RG 23 C Part II (Capital Item)
Opening Balance in RG 23 C Part II (Fixed Assets)

Please help me what is the difference between capital item & Fixed assest .

hansika

Hi folks,

share your ideas about this .

ssingla

Capital Items as per excise rule are not necessarily fixed assets. There are lot of items in Chapter 83/84 which are of consumable nature and not capitalized.