Definition
Gross value of plant and machinery represents the total original (undepreciated) value of installed plant and machinery as at the end of the accounting year. It includes the book value of own constructed plant and machinery, if installed, and the approximate value of rented-in plant and machinery as at the time of renting in but excludes the value of rented-out plant and machinery. Total value of all the plant and machinery acquired on hire-purchase basis is also included. Thus it represents the gross value of plant and machinery engaged in production process.