A registered person may claim the balance available in the "electronic cash ledger" by filing form RFD-1. Refund of balance available in "electronic credit ledger" can not be claimed, it will lapse on GST cancellation, but yes..you can use it to set of output liability before cancellation.
Note: On GST registration cancellation, you are required to pay GST on closing stock,if any remain with you at time of cancellation.