18 August 2013
If Capital goods are removed for providing an out put service then the CENVAT credit is not required to be reversed. Please refer first proviso to rule 3(5) of the Cenvat Credit rules 2004
21 August 2013
ED is dependent on movement. If the CG have not moved and you are letting it out- it maybe liable for service tax. No need to reverse in such a case.
If removed from the premises, then liable to reverse the proportionate duty- allowed to retain 2.5% of credit per quarter after initial receipt. If machinery 5 years old then 50% of duty credit availed to be debited.