Anyone cancelled Low Cost EMI merchant transaction and got full refund?

Yes, after transaction converted to emi, call customer care to cancel emi and say that you want to pay in full. 

Do it before the bill generation, every charges will be reversed ( processing+ gst+ interest).

icici emi can be cancelled within 15 days of emi conversion only

Yes you will get instant cb... If you dont need the emi... Ensure to call up cc and get it cancelled after emi conversion