Whether unutilized transitional credit can be claimed as refund. When closing the business?

Reply-As per sec 54(3) no refund of unutilised input tax credit shall be allowed in cases other than 

(i) zero rated supplies made without payment of tax;

(ii) where the credit has accumulated on account of rate of tax on inputs being higher than the rate of tax on output supplies except supplies of goods or services or both

Thus no refund of unutilized transitional credit can be claimed .