Earth Moving Machines (like JCB) treated as Asset or Vehicle

[Mathurthi RamKumar]

Dear All,

Greeting of the day..Kindly clarify my doubt..earth moving machine - JCB treated as vehicle or asset in a manufacturing unit.

Regards

M.RamKumar

AI Summary

Debate on Classifying JCBs: Assets or Vehicles? Consensus Favors 'Plant and Machinery' for Depreciation Rates. A discussion on whether earth moving machines like JCBs should be classified as assets or vehicles in a manufacturing unit. The consensus among participants is that JCBs fall under 'Plant and Machinery' rather than vehicles, impacting the applicable depreciation rate. Mahir S. clarifies that JCBs are not registered as heavy motor vehicles and are used primarily for excavation, fitting the definition of machinery rather than vehicles. Mathurthi RamKumar appreciates the clarification, while other participants endorse the view and share relevant case law supporting this classification.