Cenvat credit reversal as per rule 3(6) on removal

SUBHOJIT ROY (ICWA QUALIFIED) (33 Points)

15 March 2014  

Hi suppose I purchase a machinery(capital goods) on 15/12/2010 for Rs 900000(paying excise duty @ 10.30%) and I sold the said machinery (i.e capital goods) for Rs 550000 from my factory after being used in the manufacture of dutiable goods on 1st July 2013.Excise duty attributible for said machinery at the time of removal is @ 12.36%.What amount of CENVAT credit is now required to be reversed as per Rule 3(6) of cenvat credit rules?