cenvat credit reversal on export sale of capital asset

dear  experts

suppose  x  company  sells  a  capital asset  t.e machinery  after using  for 5 yeras . then  does the company  have to reverse credit  under section 3(5)  of  cenvat credit  rules  or 3(5) b

how  to calculate the amount of  cenvat duty  to be reversesd/

and  most  importantly  company  is  exporting the machine  to other country

now can it  avail  the facility  on  the basis of export sale of not  reversing the credit

company is selling  machinery undr form h

Replies (1)

1) you can export the capital goods under bond, without touching the cenvat credit part.

2) you can bring the capital goods under stock in hand by transfering the capital goods to stock and so the cenvat credit also , then export the goods under bond / rebate of duty

in both the cases ARE1 procedure must be maintained mere form H will not work with duty credit enjoyment.

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