Whether Input tax credit availed on capital goods is to be reversed in case of supply of such capital goods?

Yes, in terms of Section 18(6) of CGST Act, in case of supply of capital goods or plant and machinery on which input tax credit has been taken, the registered person will have to pay an amount equal to:
 Input tax credit taken on the said capital goods/ plant and machinery reduced by the percentage points specified ; or
 the tax on the transaction value of such goods whichever is higher.

(ICAI FAQ PUBLICATION 06-09-2017 -: Availability of Credit in special circumstances: FAQ NO.31)