1): The Applicant though eligible to claim for refund of inverted duty structure under Section 54(3) of the CGST Act, wishes to understand in-principle applicability of Notification No 21 and 26 in as much whether the same allow for refund of ITC availed on input services (and remaining unutilized) in whole or part thereof.

2)  :Where the answer to above is negative, the Applicant wishes to understand how does the Notification 21 and 26  apply in a scenario where factually following financials may exist:
A.  Revenue streams 
Works contract services liable to 12% GST   INR 1,000 
Output GST @ 12%_      INR 120
Total Revenues incl. GST      INR 1,120
B.  Input Tax Credit Data
Particulars       Amount (INR)
ITC on inputs        65
ITC on input services       90
Sub-total         155
Less: Total tax on outward supplies      120
Net balance remaining unutilized      35