Resetting a JavaCard applet
Just delete the instance (but not the applet) and re-install it. These actions can be performed by GlobalPlatform commands delete (on the instance AID) and install.
Resetting a javacard
I am not completely sure but I don't think a JavaCard has a "reset switch" which resets it back to it's original state (whatever state you design as original). If you are in possession of the key(s) for using the card manager, you can delete all installed applet-instances, applets, packages and security domains. That would come close to a "reset of the java card".
Jan
I suspect the original question here was about how an applet itself can trigger a power cycle of the javacard (i.e. a reset of the comms link between the reader and the card) rather than how to delete the applet from the javacard.
In any case, I'm personally interested in whether there is a way for an applet to make a software call to trigger a reset of the card it is running on. I can't see anything in the specs to facilitate this, but I'd find it hard to imagine that it couldn't be done. Does anybody know how to perform this function?