regarding Dep.
This query is : Resolved
28 May 2010
Dear Friends
I am working with a Manufacturing unit,
and we purchase Frok Lifts for handing the material one place to another within the factory hance we treat it as Plant & machinery.
But as per our Auditors is concerned they advice it is covered under Vehicle and dep charged of Vehicle rate not plant & Machinery.
Fork lift having 4 weels hence it is Vehicle.
But on practical ground it is not a vehicle.
Please advice what is the proper head,
and what is the proper reply for auditors.
I am working with a Manufacturing unit,
and we purchase Frok Lifts for handing the material one place to another within the factory hance we treat it as Plant & machinery.
But as per our Auditors is concerned they advice it is covered under Vehicle and dep charged of Vehicle rate not plant & Machinery.
Fork lift having 4 weels hence it is Vehicle.
But on practical ground it is not a vehicle.
Please advice what is the proper head,
and what is the proper reply for auditors.
28 May 2010
It will be treated as Plant & Machinery or Tool & Equipment.
It is not vehcile.
It is not vehcile.
28 May 2010
You can take example of trollies having 4 wheel, it is also tool & equipment not vechicle.
28 May 2010
AGREE WITH MR. BANSAL
31 May 2010
but how can i convence the auditors , because they were stick on it they need reference agaisnt it
31 May 2010
ASK THEM TO SHOW REFERENCE OR CASE LAW IN FAVOR OF THEIR DECISION.
31 May 2010
As per auditors opinion it was a vehicle and should be charged in vehicle head, if we need to convance them then we need case law refferance. As per practical paraliance it is a P & M . Please give me the case reff so that i would convance tham.
Thanks
Thanks
20 July 2025
Forklifts should be classified under “Plant & Machinery” and not as “Motor Vehicles,” even if they have wheels.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Exiting partner in partnership firm in gst portal
- CLOSING STOCK QUERY
- Technical Glitch in ITR-4 Online Form (AY 2026-27): Sec 44AE Partner Remuneration not mapping to E8
- Residential status of non resident
- NRI INSURANCE ADVISOR
- Reporting in TDS return
- Loss of interest in PF transfer from EPFO to Trust
- CASH GIFT FROM BLOOD RELATIVE
- TDS offline utility
- Due Date Clarity
- Missed TDS
- Query regarding Item 61/62/63 vs Item 64 in ITR-3
- Account freezed for Ineligible ITC Scrutiny for GST Annual Return
- TDS on property - Form 141 query
- Seeking Advice: High Tax Shortfall on Job Switch + Let-Out House Property Loss in FY 2025-26
- Housing Society-ITR5
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
